Horizon Bancorp Inc. IN Purchases 36 Shares of Adobe Inc. (NASDAQ:ADBE)

Horizon Bancorp Inc. IN increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 478 shares of the software company’s stock after acquiring an additional 36 shares during the period. Horizon Bancorp Inc. IN’s holdings in Adobe were worth $183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ADBE. Norges Bank bought a new position in shares of Adobe in the 4th quarter worth $2,553,035,000. GAMMA Investing LLC increased its holdings in shares of Adobe by 46,806.6% in the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after buying an additional 2,984,391 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Adobe by 82,528.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after buying an additional 1,041,513 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Adobe by 82.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock worth $937,291,000 after buying an additional 952,233 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company’s stock worth $395,321,000 after buying an additional 830,300 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.6%

Shares of NASDAQ:ADBE opened at $382.34 on Wednesday. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a market cap of $162.95 billion, a PE ratio of 24.46, a P/E/G ratio of 1.80 and a beta of 1.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18. The stock’s 50-day moving average is $390.90 and its 200 day moving average is $414.07.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the business earned $4.48 EPS. Adobe’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADBE shares. Citigroup decreased their price target on shares of Adobe from $465.00 to $450.00 and set a “neutral” rating on the stock in a report on Monday, June 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $480.00 target price on shares of Adobe in a research report on Thursday, June 5th. Oppenheimer reduced their price objective on Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Friday, June 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Monday. Finally, Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $496.75.

About Adobe

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.