Entropy Technologies LP Buys 11,415 Shares of Adobe Inc. (NASDAQ:ADBE)

Entropy Technologies LP raised its stake in Adobe Inc. (NASDAQ:ADBE) by 68.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 28,011 shares of the software company’s stock after purchasing an additional 11,415 shares during the quarter. Adobe accounts for about 1.3% of Entropy Technologies LP’s portfolio, making the stock its 3rd largest position. Entropy Technologies LP’s holdings in Adobe were worth $12,456,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the last quarter. FMR LLC grew its stake in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after acquiring an additional 347,536 shares during the period. Seilern Investment Management Ltd acquired a new stake in Adobe during the 4th quarter worth approximately $110,744,000. Finally, Erste Asset Management GmbH acquired a new stake in Adobe during the 3rd quarter worth approximately $126,703,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $433.07 on Friday. The company has a market cap of $188.52 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.11 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $628.07. The business has a fifty day simple moving average of $453.92 and a 200-day simple moving average of $499.63.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of recent research reports. UBS Group decreased their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Royal Bank of Canada decreased their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. DA Davidson reduced 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. Finally, Sanford C. Bernstein reduced their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

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.