ATOMVEST Ltd Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

ATOMVEST Ltd purchased a new stake in Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,800 shares of the software company’s stock, valued at approximately $12,807,000. Adobe comprises approximately 17.8% of ATOMVEST Ltd’s portfolio, making the stock its 3rd largest holding.

Several other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of Adobe by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares during the period. Arizona State Retirement System raised its position in Adobe by 0.4% during the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after purchasing an additional 570 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Adobe by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after buying an additional 2,100 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Adobe by 201.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after buying an additional 78,384 shares during the period. Finally, Morse Asset Management Inc raised its position in shares of Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after acquiring an additional 2,113 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $394.47 on Tuesday. The company has a fifty day moving average price of $433.88 and a 200-day moving average price of $473.88. The firm has a market cap of $171.75 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business posted $4.48 EPS. As a group, equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company reduced their target price on Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday. Morgan Stanley lowered their target price on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, Evercore ISI dropped their price objective on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $538.80.

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.