Optimus Prime Fund Management Co. Ltd. purchased a new position in Adobe Inc (NASDAQ:ADBE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,100 shares of the software company’s stock, valued at approximately $2,285,000. Adobe accounts for about 0.9% of Optimus Prime Fund Management Co. Ltd.’s investment portfolio, making the stock its 16th biggest position.
Several other large investors also recently bought and sold shares of ADBE. ERTS Wealth Advisors LLC purchased a new position in Adobe in the 4th quarter valued at approximately $88,000. Stamos Capital Partners L.P. purchased a new position in Adobe in the 4th quarter valued at approximately $566,000. DSM Capital Partners LLC grew its stake in Adobe by 20.5% in the 4th quarter. DSM Capital Partners LLC now owns 1,857,149 shares of the software company’s stock valued at $420,161,000 after buying an additional 316,048 shares in the last quarter. LMR Partners LLP purchased a new position in Adobe in the 4th quarter valued at approximately $2,346,000. Finally, Polar Capital LLP grew its stake in Adobe by 47.0% in the 4th quarter. Polar Capital LLP now owns 409,023 shares of the software company’s stock valued at $92,537,000 after buying an additional 130,785 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.
In related news, Director Charles M. Geschke sold 21,258 shares of the company’s stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $232.71, for a total value of $4,946,949.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 2,692 shares of the company’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $226.05, for a total transaction of $608,526.60. The disclosure for this sale can be found here. Insiders sold 282,344 shares of company stock valued at $69,007,648 over the last quarter. 0.32% of the stock is owned by company insiders.
A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Adobe from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Investment Research lowered shares of Adobe from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Cowen lowered shares of Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 price objective for the company. in a research note on Friday, February 15th. DZ Bank reiterated a “hold” rating on shares of Adobe in a research note on Friday, February 22nd. Finally, BidaskClub lowered shares of Adobe from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Adobe presently has an average rating of “Buy” and an average price target of $285.56.
ADBE opened at $257.09 on Friday. The firm has a market cap of $129.31 billion, a PE ratio of 46.32, a PEG ratio of 2.59 and a beta of 1.10. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. Adobe Inc has a one year low of $204.95 and a one year high of $277.61.
Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.25). The firm had revenue of $2.58 billion for 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%. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 earnings per share. Sell-side analysts forecast that Adobe Inc will post 6.21 EPS for the current fiscal year.
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.
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