Ensign Peak Advisors Inc Has $221.67 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Ensign Peak Advisors Inc lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 498,496 shares of the software company’s stock after selling 13,616 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.11% of Adobe worth $221,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Decker Retirement Planning Inc. bought a new position in Adobe during the 4th quarter worth $31,000. Summit Securities Group LLC bought a new stake in Adobe in the fourth quarter valued at $31,000. Caitlin John LLC raised its stake in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after buying an additional 48 shares during the period. Avion Wealth raised its position in shares of Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company’s stock worth $38,000 after purchasing an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC lifted its stake in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after buying an additional 50 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. Jefferies Financial Group cut their target price on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Stifel Nicolaus decreased their price objective on shares of Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company decreased their target price on shares of Adobe from $600.00 to $430.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Eleven 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $502.88.

Insider Activity at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Adobe Stock Down 0.3 %

Shares of Adobe stock opened at $383.99 on Friday. The company has a 50-day simple moving average of $380.93 and a two-hundred day simple moving average of $437.84. The stock has a market capitalization of $163.66 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share 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 company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the business earned $4.48 EPS. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS 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.