XTX Topco Ltd Has $547,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

XTX Topco Ltd lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,231 shares of the software company's stock after selling 795 shares during the period. XTX Topco Ltd's holdings in Adobe were worth $547,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADBE. Broyhill Asset Management purchased a new stake in shares of Adobe in the 4th quarter valued at approximately $297,000. CreativeOne Wealth LLC lifted its holdings in shares of Adobe by 0.3% in the fourth quarter. CreativeOne Wealth LLC now owns 8,555 shares of the software company's stock valued at $3,804,000 after purchasing an additional 28 shares in the last quarter. Mariner LLC lifted its holdings in shares of Adobe by 1.7% in the fourth quarter. Mariner LLC now owns 386,282 shares of the software company's stock valued at $171,777,000 after purchasing an additional 6,625 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of Adobe by 6.6% in the fourth quarter. Cohen & Steers Inc. now owns 760 shares of the software company's stock worth $338,000 after buying an additional 47 shares during the period. Finally, Barr E S & Co. grew its holdings in shares of Adobe by 0.4% during the fourth quarter. Barr E S & Co. now owns 42,560 shares of the software company's stock valued at $18,926,000 after buying an additional 155 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADBE. Robert W. Baird decreased their price objective on Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. BMO Capital Markets lowered their price objective on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley dropped their price objective on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus decreased their target price on shares of Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Finally, Jefferies Financial Group reduced their price objective on Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Eleven 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $502.88.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks purchased 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The shares were bought at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

Shares of ADBE traded up $8.87 during midday trading on Thursday, reaching $360.83. 2,522,107 shares of the stock were exchanged, compared to its average volume of 3,424,954. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock's 50 day simple moving average is $396.80 and its 200 day simple moving average is $447.18. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a market cap of $153.79 billion, a P/E ratio of 29.10, a PEG ratio of 2.15 and a beta of 1.49.

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

Adobe Profile

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.