Generali Asset Management SPA SGR Takes $20.41 Million Position in Adobe Inc. (NASDAQ:ADBE)

Generali Asset Management SPA SGR acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,894 shares of the software company’s stock, valued at approximately $20,408,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in Adobe in the 3rd quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe during the third quarter valued at approximately $30,000. True Wealth Design LLC raised its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares during the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Adobe in the third quarter valued at approximately $36,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of analyst reports. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. UBS Group decreased their price target on Adobe from $475.00 to $460.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Redburn Atlantic started coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Mizuho cut their price target on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $540.60.

Insider Activity

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The shares were 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. This represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

Shares of ADBE stock opened at $399.34 on Tuesday. The firm has a market capitalization of $173.88 billion, a P/E ratio of 32.20, a P/E/G ratio of 2.15 and a beta of 1.37. The company’s fifty day moving average price is $436.39 and its two-hundred day moving average price is $480.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the business posted $4.48 EPS. On average, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.