Susquehanna Fundamental Investments LLC Makes New $2.37 Million Investment in Adobe Inc. (NASDAQ:ADBE)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,338 shares of the software company’s stock, valued at approximately $2,374,000.

A number of other institutional investors have also made changes to their positions in ADBE. Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the fourth quarter worth about $31,000. Summit Securities Group LLC acquired a new position in shares of Adobe in the 4th quarter valued at approximately $31,000. Caitlin John LLC boosted its stake in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares during the last quarter. Mascoma Wealth Management LLC boosted its stake in shares of Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after buying an additional 50 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Adobe during the fourth quarter worth approximately $38,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ADBE shares. Summit Redstone set a $410.00 price objective on shares of Adobe in a research note on Wednesday, March 19th. Evercore ISI decreased their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. DA Davidson cut their price objective on Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Eleven investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $502.88.

Adobe Price Performance

Shares of ADBE stock opened at $370.98 on Wednesday. The firm has a market capitalization of $158.11 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth 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. 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 firm has a fifty day moving average of $389.45 and a 200-day moving average of $443.28.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the company earned $4.48 earnings per share. On average, equities research analysts forecast 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.