Mizuho Markets Cayman LP Raises Stock Position in Adobe Inc. (NASDAQ:ADBE)

Mizuho Markets Cayman LP increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 40.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,300 shares of the software company’s stock after purchasing an additional 375 shares during the period. Adobe accounts for about 1.3% of Mizuho Markets Cayman LP’s holdings, making the stock its 13th biggest holding. Mizuho Markets Cayman LP’s holdings in Adobe were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at about $26,000. Groupama Asset Managment boosted its holdings in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares during the period. True Wealth Design LLC grew its position in Adobe by 141.7% in the third 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. purchased a new stake in shares of Adobe during the fourth quarter valued at approximately $31,000. Finally, Caitlin John LLC raised its stake in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ADBE shares. Citigroup lowered their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Morgan Stanley lowered their target price on Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Bank of America cut their price target on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. DA Davidson lowered their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $530.00 target price on shares of Adobe in a research report on Wednesday. Eleven equities research 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’s stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average price target of $538.80.

Insider Activity

In related news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Durn purchased 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is owned by company insiders.

Adobe Trading Down 0.6 %

Shares of NASDAQ ADBE opened at $387.26 on Friday. The company has a market cap of $168.62 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The stock’s 50 day simple moving average is $434.16 and its 200 day simple moving average is $475.80. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm 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 period in the previous year, the business posted $4.48 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.