Daiwa Securities Group Inc. Has $47.36 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Daiwa Securities Group Inc. grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 79,385 shares of the software company’s stock after purchasing an additional 10,261 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Adobe were worth $47,360,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CloudAlpha Capital Management Limited Hong Kong grew its stake in shares of Adobe by 179.5% during the fourth quarter. CloudAlpha Capital Management Limited Hong Kong now owns 64,275 shares of the software company’s stock valued at $38,346,000 after purchasing an additional 41,275 shares during the last quarter. KLCM Advisors Inc. acquired a new position in Adobe during the 4th quarter worth $1,077,000. Rakuten Securities Inc. bought a new position in Adobe in the 4th quarter valued at $308,000. Prosperity Wealth Management Inc. acquired a new stake in shares of Adobe in the 4th quarter valued at $376,000. Finally, Sfmg LLC raised its position in shares of Adobe by 3.5% during the fourth quarter. Sfmg LLC now owns 680 shares of the software company’s stock worth $406,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,940,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the transaction, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 2,191 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the transaction, the executive vice president now directly owns 23,508 shares in the company, valued at approximately $14,144,998.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,075 shares of company stock worth $1,848,418. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird lowered their price objective on Adobe from $590.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $630.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lowered their target price on shares of Adobe from $600.00 to $570.00 and set a “neutral” rating for the company in a report on Friday, March 15th. KeyCorp started coverage on Adobe in a research note on Thursday, March 21st. They issued an “underweight” rating and a $445.00 price target on the stock. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $620.72.

Adobe Stock Down 0.4 %

Shares of NASDAQ:ADBE traded down $1.77 during trading on Wednesday, hitting $474.45. 2,034,141 shares of the company’s stock traded hands, compared to its average volume of 3,592,028. Adobe Inc. has a 52 week low of $331.89 and a 52 week high of $638.25. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $212.55 billion, a price-to-earnings ratio of 45.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.28. The company has a 50-day moving average price of $536.02 and a 200-day moving average price of $567.62.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.38 by $0.10. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.97 EPS. As a group, research analysts forecast that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe announced that its board has authorized a stock repurchase plan on Thursday, March 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.