Generali Investments CEE investicni spolecnost a.s. Buys Shares of 8,378 Adobe Inc. (NASDAQ:ADBE)

Generali Investments CEE investicni spolecnost a.s. bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 8,378 shares of the software company’s stock, valued at approximately $3,726,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after acquiring an additional 33,414 shares during the period. Arizona State Retirement System lifted its holdings in Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after acquiring an additional 570 shares during the period. Public Sector Pension Investment Board lifted its holdings in Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after acquiring an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Adobe by 201.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after acquiring an additional 78,384 shares during the period. Finally, Morse Asset Management Inc raised its stake in shares of 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 buying an additional 2,113 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of several research reports. Jefferies Financial Group cut their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Bank of America cut their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Mizuho cut their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Barclays cut their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Finally, Royal Bank of Canada cut their price target on Adobe from $590.00 to $550.00 and set an “outperform” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $567.81.

Adobe Stock Up 1.0 %

ADBE opened at $449.40 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $195.62 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The business has a 50-day moving average of $439.56 and a two-hundred day moving average of $487.67. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE) 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. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. 0.15% of the stock is currently owned by company insiders.

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.