5,924 Shares in Adobe Inc. (NASDAQ:ADBE) Acquired by Aigen Investment Management LP

Aigen Investment Management LP bought a new stake in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,924 shares of the software company’s stock, valued at approximately $2,634,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB lifted its stake in shares of Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after acquiring an additional 3,739 shares during the last quarter. Rational Advisors LLC bought a new position in Adobe in the third quarter valued at about $518,000. Catalyst Capital Advisors LLC boosted its stake in shares of Adobe by 20.3% during the third quarter. Catalyst Capital Advisors LLC now owns 516 shares of the software company’s stock valued at $267,000 after purchasing an additional 87 shares in the last quarter. Legacy CG LLC acquired a new position in shares of Adobe in the third quarter valued at approximately $2,989,000. Finally, Moloney Securities Asset Management LLC raised its holdings in Adobe by 28.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 7,562 shares of the software company’s stock valued at $3,915,000 after buying an additional 1,695 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. DA Davidson decreased their price target on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Bank of America decreased their target price on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Oppenheimer dropped their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Price Performance

ADBE opened at $446.03 on Wednesday. The company’s 50-day simple moving average is $439.55 and its two-hundred day simple moving average is $489.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $194.16 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $587.75.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $3.52 earnings per share. As a group, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated 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 directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % 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, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by company insiders.

About Adobe

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.