Fjarde AP Fonden Fourth Swedish National Pension Fund Has $39.86 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Adobe by 7.7%, owning 103,923 shares worth approximately $39.86 million after acquiring an additional 7,400 shares recently.
• Adobe's shares saw a gain of 3.7% and it reported $5.06 earnings per share for the recent quarter, exceeding analysts' expectations by $0.09.
• Institutional investors now hold 81.79% of Adobe's stock, indicating significant interest and investment from major financial entities.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,923 shares of the software company's stock after acquiring an additional 7,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Adobe were worth $39,858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC lifted its stake in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after acquiring an additional 167 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after purchasing an additional 756 shares during the period. Cohen & Steers Inc. lifted its stake in shares of Adobe by 6.6% in the 4th quarter. Cohen & Steers Inc. now owns 760 shares of the software company's stock valued at $338,000 after purchasing an additional 47 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Adobe in the 4th quarter valued at $386,000. Finally, Jump Financial LLC lifted its stake in shares of Adobe by 224.8% in the 4th quarter. Jump Financial LLC now owns 17,813 shares of the software company's stock valued at $7,921,000 after purchasing an additional 12,329 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ADBE shares. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and cut their price target for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. BMO Capital Markets reissued an "outperform" rating and issued a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. Melius Research raised Adobe to a "strong sell" rating in a research note on Monday. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target on the stock. in a research note on Monday. Finally, Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $467.58.

Adobe Stock Down 0.7%

ADBE stock traded down $2.49 during trading hours on Thursday, reaching $348.58. 3,742,921 shares of the stock were exchanged, compared to its average volume of 3,564,123. The firm's 50-day moving average is $373.08 and its 200-day moving average is $393.45. The company has a market cap of $147.87 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.66 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the company posted $4.48 earnings per share. Adobe's revenue was up 10.6% on a year-over-year basis. On average, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

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.