Avanza Fonder AB Invests $13.46 Million in Adobe Inc. (NASDAQ:ADBE)

Avanza Fonder AB bought a new position in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, Holdings Channel reports. The firm bought 30,271 shares of the software company’s stock, valued at approximately $13,461,000.

Several other large investors have also added to or reduced their stakes in the business. Sienna Gestion lifted its position in shares of Adobe by 0.9% during the second quarter. Sienna Gestion now owns 21,434 shares of the software company’s stock valued at $11,902,000 after purchasing an additional 185 shares in the last quarter. Middleton & Co. Inc. MA increased its stake in Adobe by 10.6% in the 2nd quarter. Middleton & Co. Inc. MA now owns 20,623 shares of the software company’s stock valued at $11,457,000 after buying an additional 1,970 shares during the last quarter. Resolute Capital Asset Partners LLC bought a new position in shares of Adobe during the 2nd quarter worth approximately $3,055,000. Intech Investment Management LLC boosted its stake in shares of Adobe by 20.1% in the 2nd quarter. Intech Investment Management LLC now owns 41,818 shares of the software company’s stock worth $23,232,000 after buying an additional 6,985 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Adobe by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 8,126 shares of the software company’s stock worth $4,514,000 after buying an additional 142 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of research analyst reports. BNP Paribas raised 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. Mizuho dropped their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Citigroup decreased their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,763 shares of company stock worth $893,665 in the last three months. Insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.2 %

NASDAQ ADBE opened at $432.26 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The stock has a market cap of $190.28 billion, a P/E ratio of 34.86, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31. The stock has a 50 day simple moving average of $479.32 and a two-hundred day simple moving average of $514.33.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the firm posted $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current 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.