Global X Japan Co. Ltd. Acquires 1,805 Shares of Adobe Inc. (NASDAQ:ADBE)

Global X Japan Co. Ltd. lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 20.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,651 shares of the software company’s stock after purchasing an additional 1,805 shares during the period. Adobe accounts for approximately 0.7% of Global X Japan Co. Ltd.’s holdings, making the stock its 26th largest position. Global X Japan Co. Ltd.’s holdings in Adobe were worth $5,515,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Mainsail Financial Group LLC lifted its holdings in Adobe by 20.5% during the third quarter. Mainsail Financial Group LLC now owns 2,793 shares of the software company’s stock valued at $1,380,000 after purchasing an additional 475 shares in the last quarter. Tempus Wealth Planning LLC raised its position in shares of Adobe by 6.6% during the 3rd quarter. Tempus Wealth Planning LLC now owns 402 shares of the software company’s stock valued at $208,000 after purchasing an additional 25 shares during the period. Pictet North America Advisors SA lifted its stake in shares of Adobe by 798.8% during the 3rd quarter. Pictet North America Advisors SA now owns 5,033 shares of the software company’s stock valued at $2,606,000 after buying an additional 4,473 shares in the last quarter. RBA Wealth Management LLC increased its stake in Adobe by 1.8% in the 3rd quarter. RBA Wealth Management LLC now owns 10,906 shares of the software company’s stock worth $5,647,000 after buying an additional 192 shares in the last quarter. Finally, WT Wealth Management raised its holdings in Adobe by 8.4% during the third quarter. WT Wealth Management now owns 4,675 shares of the software company’s stock valued at $2,314,000 after acquiring an additional 362 shares during the period. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 target price on shares of Adobe in a research report on Tuesday, October 15th. UBS Group cut their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Stifel Nicolaus boosted their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Citigroup lifted their price target on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Finally, Barclays increased their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $606.40.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,501,989. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,608 shares of company stock worth $17,486,391 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.9 %

NASDAQ ADBE opened at $493.11 on Wednesday. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $218.64 billion, a price-to-earnings ratio of 44.30, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company’s 50-day simple moving average is $533.94 and its two-hundred day simple moving average is $516.05.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $3.26 EPS. Equities analysts forecast that Adobe Inc. will post 14.8 EPS 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.