BI Asset Management Fondsmaeglerselskab A S Has $72.10 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

BI Asset Management Fondsmaeglerselskab A S increased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 162,131 shares of the software company's stock after buying an additional 15,854 shares during the quarter. Adobe comprises 0.8% of BI Asset Management Fondsmaeglerselskab A S's portfolio, making the stock its 23rd largest position. BI Asset Management Fondsmaeglerselskab A S's holdings in Adobe were worth $72,096,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors boosted its position in Adobe by 3.1% during the 4th quarter. Capital World Investors now owns 458,495 shares of the software company's stock valued at $203,884,000 after purchasing an additional 13,755 shares during the period. First Trust Advisors LP lifted its position in Adobe by 15.4% in the fourth quarter. First Trust Advisors LP now owns 437,408 shares of the software company's stock worth $194,507,000 after purchasing an additional 58,218 shares during the period. Forum Financial Management LP increased its position in shares of Adobe by 10.9% during the 4th quarter. Forum Financial Management LP now owns 4,252 shares of the software company's stock valued at $1,891,000 after purchasing an additional 417 shares during the period. Freedom Investment Management Inc. lifted its holdings in shares of Adobe by 16.1% in the fourth quarter. Freedom Investment Management Inc. now owns 4,219 shares of the software company's stock valued at $1,876,000 after buying an additional 584 shares during the period. Finally, GeoWealth Management LLC boosted its stake in Adobe by 7.2% during the fourth quarter. GeoWealth Management LLC now owns 4,220 shares of the software company's stock valued at $1,877,000 after buying an additional 285 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. Citigroup cut 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. Stifel Nicolaus reduced their target price on shares of Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a report on Thursday, March 13th. UBS Group cut their price objective on Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, BMO Capital Markets cut their target price on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and an average target price of $502.88.

Adobe Trading Up 0.9 %

Shares of Adobe stock traded up $3.14 during trading on Wednesday, reaching $353.05. 1,768,768 shares of the company were exchanged, compared to its average volume of 3,416,166. The business has a 50-day moving average price of $398.97 and a 200-day moving average price of $447.84. The firm has a market capitalization of $150.47 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 2.15 and a beta of 1.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

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

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 over the last 90 days. 0.16% of the stock is owned by company insiders.

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.