MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,706 shares of the software company’s stock after purchasing an additional 3,049 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Adobe were worth $37,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. Patriot Financial Group Insurance Agency LLC increased its holdings in Adobe by 27.2% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,051 shares of the software company’s stock worth $1,224,000 after acquiring an additional 439 shares in the last quarter. Sharkey Howes & Javer grew its holdings in Adobe by 5.7% during the 4th quarter. Sharkey Howes & Javer now owns 965 shares of the software company’s stock valued at $576,000 after buying an additional 52 shares in the last quarter. Teamwork Financial Advisors LLC purchased a new stake in Adobe during the 4th quarter valued at approximately $291,000. Compton Wealth Advisory Group LLC grew its holdings in Adobe by 1.8% during the 4th quarter. Compton Wealth Advisory Group LLC now owns 4,897 shares of the software company’s stock valued at $2,922,000 after buying an additional 88 shares in the last quarter. Finally, Dantai Capital Ltd grew its holdings in Adobe by 130.3% during the 4th quarter. Dantai Capital Ltd now owns 2,607 shares of the software company’s stock valued at $1,555,000 after buying an additional 1,475 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.0 %

Shares of ADBE stock traded up $0.20 on Friday, hitting $504.60. The stock had a trading volume of 3,897,003 shares, compared to its average volume of 4,897,709. The company has a quick ratio of 1.34, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $569.77 and a 200 day moving average price of $570.64. The company has a market cap of $228.36 billion, a PE ratio of 48.24, a P/E/G ratio of 2.73 and a beta of 1.29. Adobe Inc. has a one year low of $331.89 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.38 by $0.10. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. Adobe’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $2.97 earnings per share. Research analysts anticipate that Adobe Inc. will post 14.57 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has initiated a stock buyback program on Thursday, March 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Adobe

In other news, insider David Wadhwani sold 6,099 shares of Adobe stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $571.77, for a total transaction of $3,487,225.23. Following the completion of the sale, the insider now directly owns 7,614 shares in the company, valued at $4,353,456.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Mark S. Garfield sold 84 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $591.99, for a total transaction of $49,727.16. Following the completion of the transaction, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at $2,400,519.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David Wadhwani sold 6,099 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $571.77, for a total transaction of $3,487,225.23. Following the transaction, the insider now directly owns 7,614 shares of the company’s stock, valued at approximately $4,353,456.78. The disclosure for this sale can be found here. Insiders sold a total of 9,162 shares of company stock worth $5,340,250 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADBE shares. HSBC cut their price objective on shares of Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a report on Friday, March 15th. Stifel Nicolaus cut their price objective on shares of Adobe from $650.00 to $625.00 and set a “buy” rating for the company in a report on Friday, March 15th. Robert W. Baird cut their price objective on shares of Adobe from $590.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, March 15th. BNP Paribas downgraded Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 target price for the company. in a research report on Thursday, January 18th. Finally, DA Davidson reiterated a “buy” rating and set a $685.00 target price on shares of Adobe in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $620.72.

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.