Versant Capital Management Inc Acquires 28 Shares of Adobe Inc. (NASDAQ:ADBE)

Versant Capital Management Inc increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 413 shares of the software company’s stock after acquiring an additional 28 shares during the period. Versant Capital Management Inc’s holdings in Adobe were worth $184,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after purchasing an additional 234,909 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after buying an additional 147,981 shares during the period. FMR LLC boosted its stake in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Fisher Asset Management LLC grew its position in Adobe by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after acquiring an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after acquiring an additional 140,390 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADBE. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. UBS Group decreased their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday. BMO Capital Markets cut their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group cut their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $582.96.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,293 shares of company stock valued at $1,679,809. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

Adobe stock opened at $430.57 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $189.54 billion, a P/E ratio of 34.72, a PEG ratio of 2.51 and a beta of 1.29. The business has a 50-day moving average of $491.37 and a 200-day moving average of $521.41. Adobe Inc. has a 1 year low of $425.32 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.52 earnings per share. On average, equities analysts anticipate that Adobe Inc. will post 16.73 EPS for the current year.

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.