LMR Partners LLP Buys New Position in Adobe Inc (NASDAQ:ADBE)

LMR Partners LLP purchased a new stake in Adobe Inc (NASDAQ:ADBE) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 18,294 shares of the software company’s stock, valued at approximately $6,034,000.

A number of other institutional investors have also added to or reduced their stakes in ADBE. State Street Corp increased its stake in Adobe by 0.8% during the 4th quarter. State Street Corp now owns 19,911,953 shares of the software company’s stock valued at $6,567,161,000 after purchasing an additional 157,055 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Adobe by 2.5% in the 4th quarter. Janus Henderson Group PLC now owns 8,039,818 shares of the software company’s stock valued at $2,651,587,000 after acquiring an additional 194,488 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Adobe by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 6,872,434 shares of the software company’s stock valued at $2,261,878,000 after acquiring an additional 202,542 shares during the last quarter. Polen Capital Management LLC boosted its holdings in shares of Adobe by 3.0% in the 4th quarter. Polen Capital Management LLC now owns 4,953,887 shares of the software company’s stock valued at $1,633,841,000 after acquiring an additional 141,977 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Adobe by 3.4% in the 4th quarter. Capital Research Global Investors now owns 4,426,749 shares of the software company’s stock valued at $1,459,986,000 after acquiring an additional 145,059 shares during the last quarter. Institutional investors own 85.18% of the company’s stock.

Shares of NASDAQ ADBE traded up $2.76 during trading on Wednesday, hitting $312.76. The company had a trading volume of 360,206 shares, compared to its average volume of 5,694,240. The firm has a market capitalization of $148.49 billion, a price-to-earnings ratio of 47.32, a price-to-earnings-growth ratio of 2.36 and a beta of 0.99. The stock has a fifty day simple moving average of $346.49 and a two-hundred day simple moving average of $314.15. The company has a quick ratio of 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 0.39. Adobe Inc has a fifty-two week low of $255.13 and a fifty-two week high of $386.74.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 12th. The software company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.04. Adobe had a net margin of 27.72% and a return on equity of 33.54%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm earned $1.71 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts anticipate that Adobe Inc will post 8.02 earnings per share for the current year.

ADBE has been the topic of several recent research reports. BidaskClub raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 20th. Credit Suisse Group dropped their price objective on shares of Adobe from $385.00 to $370.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Barclays reaffirmed a “buy” rating and issued a $333.00 price objective on shares of Adobe in a report on Sunday, March 15th. Piper Jaffray Companies upped their price objective on shares of Adobe from $339.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Oppenheimer upped their price objective on shares of Adobe from $375.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $337.64.

In other Adobe news, Director John E. Warnock sold 1,600 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $345.38, for a total value of $552,608.00. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at approximately $5,556,473.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 600 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $301.40, for a total transaction of $180,840.00. Following the completion of the transaction, the executive vice president now directly owns 13,655 shares in the company, valued at $4,115,617. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,445 shares of company stock valued at $19,174,961. Insiders own 0.31% of the company’s stock.

Adobe Company 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.

Further Reading: Google Finance Portfolio

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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