Legacy Advisors LLC purchased a new stake in shares of Adobe Inc (NASDAQ:ADBE) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 148 shares of the software company’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its holdings in Adobe by 24,198.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,660,570 shares of the software company’s stock worth $171,000 after buying an additional 38,501,463 shares during the last quarter. Lunia Capital LP increased its holdings in Adobe by 23,384.5% during the fourth quarter. Lunia Capital LP now owns 8,928,109 shares of the software company’s stock worth $8,928,000 after buying an additional 8,890,092 shares during the last quarter. Norges Bank purchased a new stake in Adobe during the fourth quarter worth about $981,259,000. Morgan Stanley increased its holdings in Adobe by 41.6% during the third quarter. Morgan Stanley now owns 4,858,611 shares of the software company’s stock worth $1,311,581,000 after buying an additional 1,426,859 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Adobe by 50.9% during the third quarter. AQR Capital Management LLC now owns 3,998,483 shares of the software company’s stock worth $1,079,391,000 after buying an additional 1,349,015 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

ADBE opened at $268.99 on Wednesday. The stock has a market capitalization of $131.01 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.97 and a quick ratio of 0.97. Adobe Inc has a twelve month low of $204.95 and a twelve month high of $277.61.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.25). The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Adobe had a return on equity of 30.60% and a net margin of 28.08%. Adobe’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities research analysts anticipate that Adobe Inc will post 6.24 EPS for the current fiscal year.

In other news, EVP Donna Morris sold 13,804 shares of Adobe stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $270.00, for a total value of $3,727,080.00. Following the completion of the transaction, the executive vice president now owns 5,603 shares in the company, valued at $1,512,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Warnock sold 2,000 shares of Adobe stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $260.47, for a total transaction of $520,940.00. Following the completion of the transaction, the director now owns 16,088 shares of the company’s stock, valued at approximately $4,190,441.36. The disclosure for this sale can be found here. Insiders sold 283,153 shares of company stock valued at $70,000,814 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

ADBE has been the subject of a number of research analyst reports. KeyCorp decreased their price objective on shares of Adobe from $286.00 to $282.00 and set an “overweight” rating for the company in a report on Friday, December 14th. DZ Bank upgraded shares of Adobe from a “hold” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Thursday, December 27th. Stephens initiated coverage on shares of Adobe in a report on Wednesday, January 16th. They set an “equal weight” rating and a $278.00 price objective for the company. Nomura set a $315.00 price objective on shares of Adobe and gave the stock a “buy” rating in a report on Friday, December 14th. Finally, Pivotal Research upgraded shares of Adobe from a “hold” rating to a “buy” rating and raised their price objective for the stock from $252.00 to $262.00 in a report on Monday, January 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $285.56.

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Adobe Profile

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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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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