Massmutual Trust Co. FSB ADV Boosts Position in Adobe Inc (ADBE)

Massmutual Trust Co. FSB ADV boosted its stake in Adobe Inc (NASDAQ:ADBE) by 30.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,911 shares of the software company’s stock after buying an additional 6,319 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Adobe were worth $6,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund grew its stake in shares of Adobe by 24,198.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,660,570 shares of the software company’s stock worth $171,000 after purchasing an additional 38,501,463 shares in the last quarter. Lunia Capital LP boosted its stake in Adobe by 23,384.5% during the fourth quarter. Lunia Capital LP now owns 8,928,109 shares of the software company’s stock valued at $8,928,000 after buying an additional 8,890,092 shares in the last quarter. Morgan Stanley boosted its stake in Adobe by 41.6% during the third quarter. Morgan Stanley now owns 4,858,611 shares of the software company’s stock valued at $1,311,581,000 after buying an additional 1,426,859 shares in the last quarter. AQR Capital Management LLC boosted its stake in Adobe by 50.9% during the third quarter. AQR Capital Management LLC now owns 3,998,483 shares of the software company’s stock valued at $1,079,391,000 after buying an additional 1,349,015 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in Adobe by 27,901.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,232,051 shares of the software company’s stock valued at $4,564,000 after buying an additional 1,227,651 shares in the last quarter. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

ADBE opened at $270.57 on Monday. The company has a market cap of $132.02 billion, a PE ratio of 48.75, a PEG ratio of 2.64 and a beta of 1.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. Adobe Inc has a 1 year low of $204.95 and a 1 year high of $277.61.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.25). Adobe had a net margin of 28.08% and a return on equity of 30.60%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company earned $1.55 earnings per share. The business’s revenue was up 24.1% on a year-over-year basis. As a group, research analysts predict that Adobe Inc will post 6.24 earnings per share for the current year.

In other news, EVP Matthew Thompson sold 41,560 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $245.23, for a total transaction of $10,191,758.80. Following the transaction, the executive vice president now owns 63,087 shares of the company’s stock, valued at $15,470,825.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Ann Lewnes sold 3,000 shares of the company’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $240.16, for a total value of $720,480.00. Following the transaction, the chief marketing officer now directly owns 75,368 shares in the company, valued at approximately $18,100,378.88. The disclosure for this sale can be found here. Insiders sold 287,330 shares of company stock worth $71,134,520 over the last quarter. Company insiders own 0.32% of the company’s stock.

Several research analysts recently weighed in on the company. Robert W. Baird raised their target price on Adobe from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Cowen lowered Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 price target for the company. in a research report on Friday, February 15th. ValuEngine upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. BidaskClub upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Finally, Zacks Investment Research lowered Adobe from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $285.56.

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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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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