Asset Management One Co. Ltd. Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Asset Management One Co. Ltd. grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 0.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 212,494 shares of the software company’s stock after purchasing an additional 65 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Adobe were worth $94,868,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ADBE. CX Institutional raised its position in shares of Adobe by 4.2% in the 3rd quarter. CX Institutional now owns 2,298 shares of the software company’s stock worth $1,190,000 after acquiring an additional 93 shares in the last quarter. Creative Planning grew its stake in Adobe by 34.9% in the third quarter. Creative Planning now owns 165,167 shares of the software company’s stock valued at $84,750,000 after purchasing an additional 42,736 shares during the last quarter. Swedbank AB raised its holdings in Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Adobe by 5.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,645 shares of the software company’s stock valued at $852,000 after buying an additional 88 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Adobe by 3.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,155 shares of the software company’s stock valued at $598,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the 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. This trade represents a 11.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

ADBE opened at $459.22 on Friday. The firm has a fifty day moving average price of $449.99 and a 200 day moving average price of $497.68. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $610.33. The stock has a market cap of $199.90 billion, a P/E ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the firm posted $3.52 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent analyst reports. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Mizuho reduced their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Citigroup reduced their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Piper Sandler lowered their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $573.00.

Adobe Company 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.