Daiwa Securities Group Inc. Has $51.59 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Daiwa Securities Group Inc. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,015 shares of the software company’s stock after selling 2,158 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Adobe were worth $51,590,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Adobe by 11.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 258,340 shares of the software company’s stock worth $114,879,000 after purchasing an additional 25,543 shares in the last quarter. SLT Holdings LLC acquired a new stake in Adobe during the 4th quarter worth $768,000. Roberts Glore & Co. Inc. IL bought a new position in Adobe during the fourth quarter worth about $514,000. OFI Invest Asset Management acquired a new position in Adobe in the fourth quarter valued at about $5,647,000. Finally, United Community Bank increased its holdings in shares of Adobe by 9.0% in the fourth quarter. United Community Bank now owns 2,373 shares of the software company’s stock worth $1,055,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADBE. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. DA Davidson cut their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Redburn Atlantic started coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Wells Fargo & Company cut their price objective on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, BMO Capital Markets lowered their target price on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $567.81.

Insider Activity at Adobe

In related news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.15% of the company’s stock.

Adobe Stock Up 1.0 %

ADBE opened at $449.40 on Monday. The stock has a fifty day moving average of $439.56 and a 200-day moving average of $486.60. The company has a market capitalization of $195.67 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week 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.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. 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 company earned $3.52 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.