Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 115.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,586 shares of the software company's stock after buying an additional 850 shares during the period. Asahi Life Asset Management CO. LTD.'s holdings in Adobe were worth $705,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company's stock worth $10,495,544,000 after buying an additional 234,909 shares in the last quarter. Geode Capital Management LLC increased its stake in Adobe by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company's stock worth $5,435,377,000 after buying an additional 147,981 shares in the last quarter. FMR LLC increased its stake in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company's stock worth $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Fisher Asset Management LLC increased its stake in Adobe by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company's stock worth $2,516,196,000 after buying an additional 93,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company's stock valued at $2,455,079,000 after purchasing an additional 140,390 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Up 0.3 %

Shares of NASDAQ:ADBE traded up $1.30 during trading hours on Friday, hitting $438.49. 3,936,248 shares of the company's stock traded hands, compared to its average volume of 3,474,121. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. The business has a fifty day moving average price of $439.71 and a 200-day moving average price of $490.59. The firm has a market capitalization of $190.87 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick 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 (EPS) for the quarter, beating analysts' consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.52 earnings per share. Equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ADBE shares. Sanford C. Bernstein cut their price objective on Adobe from $644.00 to $587.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company cut their price objective on Adobe from $700.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. StockNews.com lowered Adobe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 20th. Redburn Atlantic started coverage on Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Finally, Citigroup cut their price objective on Adobe from $616.00 to $590.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $570.88.

Insider Activity at Adobe

In related news, Director Amy Banse sold 606 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was 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. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares of the company's stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company's stock.

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.