Swedbank AB Has $362.95 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Swedbank AB decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 816,215 shares of the software company's stock after selling 379,960 shares during the period. Swedbank AB owned about 0.19% of Adobe worth $362,954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. Magnolia Capital Advisors LLC grew its position in Adobe by 13.9% in the second quarter. Magnolia Capital Advisors LLC now owns 664 shares of the software company's stock valued at $369,000 after acquiring an additional 81 shares during the period. Regal Investment Advisors LLC lifted its holdings in Adobe by 2.6% during the 2nd quarter. Regal Investment Advisors LLC now owns 1,382 shares of the software company's stock valued at $768,000 after purchasing an additional 35 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Adobe by 4.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 8,939 shares of the software company's stock valued at $4,966,000 after purchasing an additional 356 shares during the last quarter. Next Capital Management LLC lifted its holdings in Adobe by 3.2% during the 2nd quarter. Next Capital Management LLC now owns 678 shares of the software company's stock valued at $377,000 after purchasing an additional 21 shares during the last quarter. Finally, Advisory Alpha LLC bought a new position in Adobe during the 2nd quarter valued at about $224,000. Institutional investors own 81.79% of the company's stock.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 over the last quarter. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Down 0.3 %

Shares of ADBE traded down $1.16 during trading hours on Wednesday, reaching $441.68. The stock had a trading volume of 2,993,831 shares, compared to its average volume of 4,004,716. The company has a market cap of $192.26 billion, a P/E ratio of 35.62, a P/E/G ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. 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 firm has a 50-day moving average of $465.79 and a 200 day moving average of $505.60.

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 (EPS) for the quarter, topping 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 the consensus estimate of $5.54 billion. During the same period in the prior year, the company earned $3.52 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price target on Adobe from $700.00 to $640.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. TD Cowen lowered Adobe from a "buy" rating to a "hold" rating and decreased their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. BMO Capital Markets cut their price target on Adobe from $600.00 to $570.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. Bank of America decreased their price objective on shares of Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Finally, Mizuho dropped their target price on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating for the company in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently 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.