Achmea Investment Management B.V. Has $22.64 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Achmea Investment Management B.V. reduced its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,908 shares of the software company's stock after selling 731 shares during the period. Achmea Investment Management B.V.'s holdings in Adobe were worth $22,638,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADBE. Swedbank AB lifted its holdings in Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company's stock valued at $619,355,000 after purchasing an additional 3,739 shares during the last quarter. United Bank lifted its holdings in Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company's stock valued at $1,344,000 after purchasing an additional 428 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in Adobe by 2.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 2,497 shares of the software company's stock valued at $1,293,000 after purchasing an additional 64 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Adobe by 194.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,397 shares of the software company's stock valued at $1,759,000 after purchasing an additional 2,242 shares during the last quarter. Finally, RPG Investment Advisory LLC lifted its holdings in Adobe by 0.9% during the 3rd quarter. RPG Investment Advisory LLC now owns 23,272 shares of the software company's stock valued at $12,050,000 after purchasing an additional 204 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Remove Ads

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company's stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David A. Ricks acquired 2,250 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares of the company's stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADBE. Piper Sandler cut their price target on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a report on Thursday, December 12th. TD Cowen cut shares of Adobe from a "buy" rating to a "hold" rating and lowered their price objective for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of Adobe from $515.00 to $495.00 and set an "outperform" rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, BNP Paribas upgraded shares of 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Adobe has an average rating of "Moderate Buy" and an average price target of $539.46.

Adobe Stock Down 13.9 %

Shares of ADBE stock traded down $60.76 during trading on Thursday, reaching $377.84. The company's stock had a trading volume of 14,354,454 shares, compared to its average volume of 3,671,526. The business has a fifty day moving average price of $437.74 and a 200-day moving average price of $483.80. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $164.51 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a one year low of $374.50 and a one year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the firm posted $4.48 earnings per share. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

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.