Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 75.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,111 shares of the software company’s stock after purchasing an additional 476 shares during the quarter. Rakuten Securities Inc.’s holdings in Adobe were worth $494,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC grew its position in Adobe by 82,528.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after buying an additional 1,041,513 shares during the period. FMR LLC lifted its holdings in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Adobe in the fourth quarter worth about $243,827,000. Assenagon Asset Management S.A. lifted its stake in shares of Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares in the last quarter. Finally, Seilern Investment Management Ltd purchased a new position in shares of Adobe in the fourth quarter worth about $110,744,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $433.66 on Wednesday. The company’s 50-day moving average is $439.13 and its 200 day moving average is $484.86. 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 capitalization of $188.82 billion, a P/E ratio of 34.97, a price-to-earnings-growth 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.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the business posted $3.52 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADBE. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Piper Sandler reduced their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Citigroup lowered their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday. Redburn Atlantic initiated coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $563.96.

Insider Activity

In other news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction 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 represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 over the last ninety days. Company insiders own 0.15% of the company’s stock.

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.