SBI Securities Co. Ltd. Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

SBI Securities Co. Ltd. purchased a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,139 shares of the software company's stock, valued at approximately $5,843,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nordea Investment Management AB increased its position in shares of Adobe by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock worth $765,094,000 after acquiring an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company's stock valued at $10,005,000 after purchasing an additional 2,100 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company's stock worth $60,779,000 after purchasing an additional 78,384 shares in the last quarter. Morse Asset Management Inc raised its stake in shares of Adobe by 33.0% in the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company's stock worth $4,411,000 after purchasing an additional 2,113 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Adobe by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company's stock valued at $44,090,000 after purchasing an additional 1,326 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

Adobe stock traded up $1.30 during mid-day trading on Friday, reaching $438.49. The company's stock had a trading volume of 3,936,248 shares, compared to its average volume of 3,474,121. The company has a market capitalization of $190.87 billion, a P/E ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. The firm's fifty day moving average price is $439.71 and its two-hundred day moving average price is $490.59. Adobe Inc. has a 12-month low of $403.75 and a 12-month 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same period in the previous year, the business earned $3.52 earnings per share. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of several recent research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $590.00 price target on shares of Adobe in a report on Thursday, February 13th. Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. BNP Paribas raised shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target on the stock in a research report on Wednesday, January 15th. Mizuho reduced their price objective on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Finally, DA Davidson decreased their price objective on shares of Adobe from $685.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $570.88.

Insider Activity

In other news, Director Amy Banse sold 606 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company's stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last ninety days. Company insiders own 0.15% of the company's stock.

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.