CANADA LIFE ASSURANCE Co Purchases 6,860 Shares of Adobe Inc. (NASDAQ:ADBE)

CANADA LIFE ASSURANCE Co lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,779 shares of the software company's stock after purchasing an additional 6,860 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.10% of Adobe worth $197,232,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Decker Retirement Planning Inc. bought a new stake in Adobe during the fourth quarter worth $31,000. Summit Securities Group LLC bought a new stake in shares of Adobe in the 4th quarter valued at about $31,000. Caitlin John LLC lifted its stake in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Avion Wealth increased its position in Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after buying an additional 46 shares during the last quarter. Finally, Mascoma Wealth Management LLC raised its stake in Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADBE. UBS Group decreased their target price on Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Evercore ISI cut their target price on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Summit Redstone set a $410.00 price target on shares of Adobe in a research note on Wednesday, March 19th. Mizuho cut their price objective on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Finally, StockNews.com cut Adobe from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $506.73.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the company's 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 transaction, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was purchased 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 directly 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. In the last 90 days, insiders have sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.16% of the company's stock.

Adobe Trading Up 2.3 %

NASDAQ ADBE traded up $8.04 on Tuesday, reaching $351.26. The company had a trading volume of 1,445,195 shares, compared to its average volume of 3,412,319. The business has a 50 day moving average of $401.15 and a two-hundred day moving average of $448.52. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The firm has a market cap of $149.70 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 2.15 and a beta of 1.49. 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 issued its 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 business 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 earned $4.48 earnings per share. Analysts forecast that Adobe Inc. will post 16.65 EPS 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.