Stevens Capital Management LP Has $2.18 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Stevens Capital Management LP boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 78.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,902 shares of the software company’s stock after buying an additional 2,148 shares during the period. Adobe makes up about 0.9% of Stevens Capital Management LP’s portfolio, making the stock its 20th largest position. Stevens Capital Management LP’s holdings in Adobe were worth $2,180,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. LPL Financial LLC raised its holdings in Adobe by 4.2% during the fourth quarter. LPL Financial LLC now owns 444,953 shares of the software company’s stock worth $197,766,000 after buying an additional 18,070 shares during the last quarter. Richwood Investment Advisors LLC grew its stake in shares of Adobe by 11.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 1,329 shares of the software company’s stock worth $591,000 after acquiring an additional 140 shares in the last quarter. Mizuho Markets Cayman LP grew its stake in shares of Adobe by 40.5% in the 4th quarter. Mizuho Markets Cayman LP now owns 1,300 shares of the software company’s stock worth $578,000 after acquiring an additional 375 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of Adobe by 3.7% in the 4th quarter. Optimum Investment Advisors now owns 2,791 shares of the software company’s stock worth $1,241,000 after acquiring an additional 100 shares in the last quarter. Finally, Fortis Capital Management LLC grew its stake in shares of Adobe by 4.5% in the 4th quarter. Fortis Capital Management LLC now owns 9,586 shares of the software company’s stock worth $4,263,000 after acquiring an additional 412 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADBE shares. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and reduced their target price for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Stifel Nicolaus reduced their target price on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Bank of America reduced their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Jefferies Financial Group reduced their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $538.80.

Adobe Trading Down 0.6 %

Shares of Adobe stock opened at $387.26 on Friday. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75. The company has a market cap of $168.62 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.15 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $434.16 and its 200-day moving average price is $475.80.

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

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David A. Ricks bought 2,250 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 over the last three months. 0.16% of the stock is owned by corporate insiders.

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.