Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lessened by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,314 shares of the software company's stock after selling 52,346 shares during the period. Mediolanum International Funds Ltd's holdings in Adobe were worth $33,937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the third quarter valued at approximately $26,000. Piscataqua Savings Bank raised its position in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock valued at $25,000 after buying an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe in the third quarter valued at approximately $30,000. True Wealth Design LLC grew its holdings in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company's stock valued at $30,000 after purchasing an additional 34 shares during the period. Finally, Briaud Financial Planning Inc purchased a new stake in Adobe in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were 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 trade represents a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 3,819 shares of the firm'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 of the company's stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % 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 90 days. Corporate insiders own 0.15% of the company's stock.

Adobe Stock Performance

Shares of Adobe stock traded up $1.15 during trading on Monday, hitting $438.60. 3,332,281 shares of the stock were exchanged, compared to its average volume of 3,922,185. The stock's fifty day moving average is $461.97 and its 200 day moving average is $502.99. The stock has a market cap of $190.92 billion, a PE ratio of 35.37, a P/E/G ratio of 2.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $634.59.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its 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 net margin of 25.85% and a return on equity of 45.87%. Adobe's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.52 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent analyst reports. TD Cowen downgraded shares of Adobe from a "buy" rating to a "hold" rating and lowered their target price for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Oppenheimer lowered their target price on shares of Adobe from $625.00 to $600.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. Royal Bank of Canada lowered their target price on shares of Adobe from $610.00 to $590.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. UBS Group lowered their target price on shares of Adobe from $525.00 to $475.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. Finally, BNP Paribas upgraded shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $573.00.

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.