Two Creeks Capital Management LP Has $91.98 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Two Creeks Capital Management LP boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,847 shares of the software company's stock after acquiring an additional 46,316 shares during the quarter. Adobe accounts for 5.6% of Two Creeks Capital Management LP's portfolio, making the stock its 7th biggest holding. Two Creeks Capital Management LP's holdings in Adobe were worth $91,981,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sepio Capital LP increased its holdings in Adobe by 2.3% in the fourth quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after buying an additional 22 shares in the last quarter. Cadence Bank boosted its stake in shares of Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after acquiring an additional 22 shares during the last quarter. Foster Group Inc. grew its holdings in shares of Adobe by 4.6% during the fourth quarter. Foster Group Inc. now owns 526 shares of the software company's stock worth $234,000 after buying an additional 23 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in Adobe by 0.4% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock valued at $2,404,000 after acquiring an additional 23 shares during the last quarter. Finally, Veery Capital LLC increased its stake in Adobe by 1.9% in the fourth quarter. Veery Capital LLC now owns 1,315 shares of the software company's stock valued at $585,000 after purchasing an additional 24 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Up 1.9 %

NASDAQ:ADBE opened at $349.91 on Wednesday. The company has a 50-day moving average price of $398.97 and a 200-day moving average price of $447.84. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $149.13 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the firm posted $4.48 earnings per share. Equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent research reports. BNP Paribas upgraded Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. Redburn Atlantic started coverage on Adobe in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. Jefferies Financial Group cut their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Evercore ISI decreased their price objective on Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $506.73.

Insider Transactions at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 3,819 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by company insiders.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.