Clal Insurance Enterprises Holdings Ltd Has $65.34 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Clal Insurance Enterprises Holdings Ltd cut its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,936 shares of the software company's stock after selling 1,482 shares during the period. Clal Insurance Enterprises Holdings Ltd's holdings in Adobe were worth $65,340,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Swedbank AB lifted its stake in shares of Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company's stock valued at $619,355,000 after buying an additional 3,739 shares during the period. EMC Capital Management raised its stake in shares of Adobe by 289.3% in the third quarter. EMC Capital Management now owns 1,168 shares of the software company's stock valued at $605,000 after purchasing an additional 868 shares in the last quarter. Dash Acquisitions Inc. lifted its position in Adobe by 7.2% in the third quarter. Dash Acquisitions Inc. now owns 25,085 shares of the software company's stock worth $12,134,000 after purchasing an additional 1,688 shares during the period. Farther Finance Advisors LLC boosted its stake in Adobe by 5.7% during the third quarter. Farther Finance Advisors LLC now owns 8,629 shares of the software company's stock worth $4,467,000 after buying an additional 468 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in Adobe by 3.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,902 shares of the software company's stock valued at $1,408,000 after buying an additional 93 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded up $1.30 on Friday, hitting $438.49. The company had a trading volume of 3,936,248 shares, compared to its average volume of 3,474,121. The stock has a 50 day moving average price of $439.71 and a 200 day moving average price of $490.59. 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 $190.87 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data 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 net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the business posted $3.52 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 922 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares of the company's stock, valued at $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of the firm's stock in a transaction 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 transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 in the last ninety days. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ADBE shares. TD Cowen downgraded shares of Adobe from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. DA Davidson decreased their price target on Adobe from $685.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. BNP Paribas upgraded Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 target price on the stock in a report on Wednesday, January 15th. Finally, UBS Group lowered their price target on Adobe from $525.00 to $475.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $570.88.

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.