Aware Super Pty Ltd as trustee of Aware Super Buys Shares of 95,268 Adobe Inc. (NASDAQ:ADBE)

Aware Super Pty Ltd as trustee of Aware Super bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 95,268 shares of the software company's stock, valued at approximately $42,364,000. Adobe accounts for approximately 0.7% of Aware Super Pty Ltd as trustee of Aware Super's investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. M&T Bank Corp raised its stake in Adobe by 3.9% during the third quarter. M&T Bank Corp now owns 156,198 shares of the software company's stock valued at $80,876,000 after buying an additional 5,905 shares during the last quarter. Virtu Financial LLC bought a new stake in Adobe during the 3rd quarter valued at about $4,167,000. Morse Asset Management Inc lifted its stake in shares of Adobe by 32.6% in the third quarter. Morse Asset Management Inc now owns 8,494 shares of the software company's stock worth $4,398,000 after buying an additional 2,088 shares in the last quarter. Te Ahumairangi Investment Management Ltd lifted its position in Adobe by 12.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 4,455 shares of the software company's stock valued at $2,294,000 after acquiring an additional 510 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its position in shares of Adobe by 1.6% during the third quarter. Anchor Investment Management LLC now owns 16,261 shares of the software company's stock valued at $8,420,000 after buying an additional 255 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55 % 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 worth $2,191,826. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ADBE shares. Mizuho dropped their target price on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Robert W. Baird lowered their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. DA Davidson cut their price target on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group dropped their price objective on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, KeyCorp upgraded shares of Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $513.27.

Adobe Price Performance

ADBE traded up $4.61 during trading hours on Friday, hitting $348.80. The company's stock had a trading volume of 5,206,364 shares, compared to its average volume of 3,418,457. The business's 50-day moving average price is $403.54 and its 200-day moving average price is $450.43. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $148.66 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

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

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.