Mn Services Vermogensbeheer B.V. Grows Holdings in Adobe Inc. (NASDAQ:ADBE)

Mn Services Vermogensbeheer B.V. grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,474 shares of the software company's stock after buying an additional 3,600 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Adobe were worth $79,364,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock valued at $765,094,000 after buying an additional 33,414 shares during the period. Public Sector Pension Investment Board increased its holdings in Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company's stock worth $10,005,000 after purchasing an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company's stock worth $60,779,000 after purchasing an additional 78,384 shares during the period. Morse Asset Management Inc increased its holdings in Adobe by 33.0% during the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company's stock worth $4,411,000 after purchasing an additional 2,113 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company's stock worth $44,090,000 after purchasing an additional 1,326 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity

In related news, EVP Scott Belsky sold 3,819 shares of the business's stock in a transaction dated Monday, January 27th. The shares were 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 directly owns 18,334 shares in the company, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

Shares of ADBE stock traded up $1.30 during trading hours on Friday, reaching $438.49. 3,936,248 shares of the company's stock were exchanged, compared to its average volume of 3,474,121. The company has a market cap 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's 50 day moving average is $439.71 and its two-hundred day moving average is $490.93. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. 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, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.52 EPS. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ADBE. Piper Sandler lowered their price objective on Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, December 12th. StockNews.com cut Adobe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 20th. BNP Paribas raised Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Stifel Nicolaus decreased their target price on Adobe from $650.00 to $600.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $590.00 target price on shares of Adobe in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Adobe has an average rating of "Moderate Buy" and a consensus target price of $570.88.

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.