Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 1,414.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 889,000 shares of the software company’s stock after acquiring an additional 830,300 shares during the period. Adobe accounts for about 0.9% of Two Sigma Advisers LP’s portfolio, making the stock its 26th largest holding. Two Sigma Advisers LP owned approximately 0.20% of Adobe worth $395,321,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ADBE. Sepio Capital LP lifted its stake in Adobe by 2.3% during the fourth quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after purchasing an additional 22 shares in the last quarter. Cadence Bank lifted its stake in Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC lifted its stake in Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after purchasing an additional 22 shares in the last quarter. Foster Group Inc. lifted its stake in 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 purchasing an additional 23 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in Adobe by 0.4% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock worth $2,404,000 after purchasing an additional 23 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE stock opened at $417.13 on Monday. The stock’s 50-day moving average is $375.68 and its two-hundred day moving average is $433.63. The firm has a market cap of $177.78 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter last year, the company posted $4.48 earnings per share. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ADBE shares. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. DA Davidson reduced 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. Royal Bank of Canada reduced their price objective on Adobe from $530.00 to $480.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Morgan Stanley reduced their price objective on Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Citigroup reduced their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $502.88.

Adobe Company 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.