DSM Capital Partners LLC increased its position in shares of Adobe Inc (NASDAQ:ADBE) by 20.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,857,149 shares of the software company’s stock after purchasing an additional 316,048 shares during the quarter. Adobe makes up approximately 7.2% of DSM Capital Partners LLC’s investment portfolio, making the stock its 4th largest position. DSM Capital Partners LLC owned about 0.38% of Adobe worth $420,161,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Brookstone Capital Management boosted its stake in Adobe by 4.6% during the fourth quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock worth $210,000 after buying an additional 41 shares during the last quarter. JOYN Advisors Inc. boosted its stake in Adobe by 7.4% during the fourth quarter. JOYN Advisors Inc. now owns 622 shares of the software company’s stock worth $141,000 after buying an additional 43 shares during the last quarter. Founders Capital Management boosted its stake in Adobe by 0.3% during the fourth quarter. Founders Capital Management now owns 17,500 shares of the software company’s stock worth $3,959,000 after buying an additional 50 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Adobe by 7.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 760 shares of the software company’s stock worth $172,000 after buying an additional 50 shares during the last quarter. Finally, RB Capital Management LLC boosted its stake in Adobe by 1.3% during the fourth quarter. RB Capital Management LLC now owns 4,513 shares of the software company’s stock worth $1,021,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.
ADBE stock opened at $257.09 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $129.31 billion, a P/E ratio of 46.32, a PEG ratio of 2.59 and a beta of 1.10. Adobe Inc has a 12-month low of $204.95 and a 12-month high of $277.61.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.25). The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Adobe had a net margin of 28.69% and a return on equity of 31.19%. Adobe’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, research analysts expect that Adobe Inc will post 6.21 EPS for the current year.
Several equities analysts have recently commented on the company. Robert W. Baird upped their price target on Adobe from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Investment Research raised Adobe from a “hold” rating to a “buy” rating and set a $286.00 price target on the stock in a research note on Thursday, December 6th. Cowen lowered Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 price target on the stock. in a research note on Friday, February 15th. Pivotal Research reaffirmed a “hold” rating and issued a $252.00 price target (down previously from $254.00) on shares of Adobe in a research note on Friday, December 14th. Finally, ValuEngine raised Adobe from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $285.56.
In related news, Chairman Shantanu Narayen sold 139,834 shares of the business’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $245.40, for a total value of $34,315,263.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ann Lewnes sold 2,692 shares of the business’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $226.05, for a total value of $608,526.60. The disclosure for this sale can be found here. Insiders sold a total of 282,344 shares of company stock worth $69,007,648 in the last quarter. Company insiders own 0.32% of the company’s stock.
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Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
Further Reading: Beta
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