Clal Insurance Enterprises Holdings Ltd Reduces Holdings in Adobe Inc. (NASDAQ:ADBE)

Clal Insurance Enterprises Holdings Ltd decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 146,936 shares of the software company’s stock after selling 1,482 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Adobe were worth $65,340,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Adobe during the fourth quarter worth about $5,843,000. Jones Financial Companies Lllp grew its stake in shares of Adobe by 29.4% during the fourth quarter. Jones Financial Companies Lllp now owns 47,098 shares of the software company’s stock worth $20,943,000 after acquiring an additional 10,705 shares during the last quarter. Modera Wealth Management LLC boosted its position in Adobe by 1.8% in the fourth quarter. Modera Wealth Management LLC now owns 21,116 shares of the software company’s stock valued at $9,390,000 after buying an additional 370 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in Adobe by 650.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,943 shares of the software company’s stock valued at $864,000 after buying an additional 1,684 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its position in Adobe by 115.5% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 1,586 shares of the software company’s stock valued at $705,000 after buying an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ADBE shares. Jefferies Financial Group dropped their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Redburn Atlantic started coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein lowered their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Adobe Stock Up 0.3 %

NASDAQ ADBE opened at $438.49 on Friday. The business has a fifty day moving average price of $439.71 and a 200 day moving average price of $490.93. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $190.87 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the company earned $3.52 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. This represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was 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 in the last three months. 0.15% of the stock is owned by corporate insiders.

Adobe 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.