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

Parametrica Management Ltd purchased a new stake in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,824 shares of the software company’s stock, valued at approximately $1,256,000. Adobe accounts for approximately 1.7% of Parametrica Management Ltd’s portfolio, making the stock its 17th biggest holding.

Several other institutional investors have also modified their holdings of the stock. United Bank increased its holdings in shares of Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company’s stock worth $1,344,000 after buying an additional 428 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Adobe by 1.2% in the third quarter. Penserra Capital Management LLC now owns 4,570 shares of the software company’s stock worth $2,365,000 after acquiring an additional 54 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Adobe by 105.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,101 shares of the software company’s stock valued at $570,000 after buying an additional 564 shares during the period. Dai ichi Life Insurance Company Ltd lifted its stake in Adobe by 3.3% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 55,896 shares of the software company’s stock worth $28,942,000 after acquiring an additional 1,779 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of 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 purchasing an additional 787,356 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADBE. Stifel Nicolaus reduced their price objective on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Bank of America dropped their target price on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. BMO Capital Markets reduced their price objective on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Sanford C. Bernstein decreased their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Oppenheimer dropped their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $538.80.

Adobe Stock Up 2.3 %

Shares of ADBE opened at $403.64 on Wednesday. The firm has a market capitalization of $175.75 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75. The company has a 50-day simple moving average of $433.70 and a 200-day simple moving average of $472.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the company posted $4.48 earnings per share. On average, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share 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.