NN Investment Partners Holdings N.V. increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 677,254 shares of the software company’s stock after acquiring an additional 2,023 shares during the period. Adobe comprises about 1.9% of NN Investment Partners Holdings N.V.’s portfolio, making the stock its 7th biggest position. NN Investment Partners Holdings N.V. owned about 0.14% of Adobe worth $321,946,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Newfound Research LLC bought a new stake in Adobe during the 1st quarter worth $64,000. JustInvest LLC lifted its stake in shares of Adobe by 6.2% in the 1st quarter. JustInvest LLC now owns 5,903 shares of the software company’s stock valued at $2,806,000 after purchasing an additional 346 shares during the period. DAGCO Inc. lifted its stake in shares of Adobe by 7.8% in the 1st quarter. DAGCO Inc. now owns 3,068 shares of the software company’s stock valued at $1,458,000 after purchasing an additional 221 shares during the period. US Bancorp DE raised its stake in Adobe by 0.8% during the 1st quarter. US Bancorp DE now owns 70,584 shares of the software company’s stock worth $33,554,000 after buying an additional 565 shares during the period. Finally, Park Avenue Securities LLC raised its stake in shares of Adobe by 14.8% in the first quarter. Park Avenue Securities LLC now owns 17,052 shares of the software company’s stock worth $8,106,000 after purchasing an additional 2,194 shares during the last quarter. Institutional investors and hedge funds own 82.43% of the company’s stock.
Shares of NASDAQ ADBE traded down $17.02 during midday trading on Tuesday, reaching $486.44. The company had a trading volume of 50,976 shares, compared to its average volume of 2,647,097. The business’s 50-day simple moving average is $488.57 and its 200 day simple moving average is $479.62. The stock has a market cap of $232.52 billion, a P/E ratio of 46.44, a P/E/G ratio of 2.55 and a beta of 0.97. Adobe Inc. has a 1 year low of $340.00 and a 1 year high of $536.88. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.31.
Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Monday, March 22nd. The software company reported $3.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.79 by $0.35. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.76 billion. Adobe had a net margin of 40.88% and a return on equity of 35.81%. The firm’s revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the business earned $2.27 earnings per share. Analysts predict that Adobe Inc. will post 9.47 earnings per share for the current year.
ADBE has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating on shares of Adobe in a research report on Thursday, April 8th. Bank of America reaffirmed a “buy” rating and set a $570.00 price objective on shares of Adobe in a research note on Wednesday, April 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $523.00 price objective on shares of Adobe in a research note on Wednesday, March 3rd. Wolfe Research assumed coverage on Adobe in a research note on Wednesday, April 28th. They issued an “outperform” rating and a $650.00 target price on the stock. Finally, BMO Capital Markets cut their target price on Adobe from $570.00 to $535.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $551.68.
In other news, EVP Abhay Parasnis sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $499.17, for a total value of $1,996,680.00. Following the sale, the executive vice president now directly owns 43,746 shares of the company’s stock, valued at approximately $21,836,690.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Warnock sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, April 19th. The shares were sold at an average price of $517.25, for a total transaction of $1,293,125.00. Following the completion of the sale, the director now directly owns 18,882 shares in the company, valued at $9,766,714.50. The disclosure for this sale can be found here. Insiders have sold 13,836 shares of company stock worth $7,093,673 over the last ninety days. 0.31% of the stock is owned by insiders.
Adobe Company Profile
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, 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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