PARUS FINANCE UK Ltd Buys 7,980 Shares of Adobe Inc. (NASDAQ:ADBE)

PARUS FINANCE UK Ltd boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 27.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 37,045 shares of the software company’s stock after purchasing an additional 7,980 shares during the period. Adobe comprises 5.2% of PARUS FINANCE UK Ltd’s holdings, making the stock its 7th largest holding. PARUS FINANCE UK Ltd’s holdings in Adobe were worth $16,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in Adobe during the third quarter valued at about $26,000. Groupama Asset Managment increased its holdings in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in Adobe in the 4th quarter worth approximately $31,000. Finally, Caitlin John LLC boosted its position in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ADBE. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $530.00 price target on shares of Adobe in a report on Wednesday, March 19th. DA Davidson dropped their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Finally, Barclays dropped their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. 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. According to MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $533.85.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% of the company’s stock.

Adobe Trading Down 2.6 %

Shares of Adobe stock opened at $385.71 on Friday. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75. The stock has a market capitalization of $167.94 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a 50-day simple moving average of $431.81 and a 200 day simple moving average of $470.42. 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 (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the business posted $4.48 earnings per share. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.