Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Flossbach Von Storch SE

Flossbach Von Storch SE increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 15.1% in the 4th quarter, HoldingsChannel reports. The fund owned 71,136 shares of the software company’s stock after purchasing an additional 9,309 shares during the quarter. Flossbach Von Storch SE’s holdings in Adobe were worth $31,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ADBE. Legacy Investment Solutions LLC purchased a new position in Adobe in the third quarter valued at $26,000. Groupama Asset Managment raised its stake in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the third quarter valued at $30,000. True Wealth Design LLC raised its stake 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 buying an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Adobe in the fourth quarter valued at $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $456.99 on Thursday. The business’s 50 day simple moving average is $441.28 and its 200-day simple moving average is $494.89. The firm has a market capitalization of $198.93 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31. 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 Inc. has a 12 month low of $403.75 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.52 EPS. As a group, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ADBE shares. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Piper Sandler cut their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company cut their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and cut their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $570.88.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 922 shares of Adobe 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 completion of the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred 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 transaction, the director now owns 32,929 shares of the company’s stock, 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 have sold 5,681 shares of company stock valued at $2,525,126 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

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.