Fosun International Ltd Has $2.04 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Fosun International Ltd boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 49.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,579 shares of the software company's stock after buying an additional 1,521 shares during the period. Adobe makes up 0.6% of Fosun International Ltd's holdings, making the stock its 11th largest position. Fosun International Ltd's holdings in Adobe were worth $2,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Elefante Mark B purchased a new stake in shares of Adobe during the fourth quarter worth $385,000. Ethic Inc. boosted its holdings in Adobe by 12.0% during the 4th quarter. Ethic Inc. now owns 45,775 shares of the software company's stock valued at $20,355,000 after acquiring an additional 4,898 shares during the period. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of Adobe in the fourth quarter valued at approximately $667,000. Fairview Capital Investment Management LLC raised its stake in shares of Adobe by 12.8% in the fourth quarter. Fairview Capital Investment Management LLC now owns 103,544 shares of the software company's stock valued at $46,044,000 after acquiring an additional 11,778 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of Adobe during the fourth quarter worth approximately $920,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho dropped their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company dropped their target price on Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Oppenheimer decreased their price target on Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Piper Sandler decreased their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Summit Redstone set a $410.00 price objective on Adobe in a research report on Wednesday, March 19th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Stock Performance

ADBE traded up $1.46 during trading hours on Tuesday, hitting $397.40. 2,663,069 shares of the stock were exchanged, compared to its average volume of 3,440,514. The stock has a market cap of $169.37 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock has a 50-day simple moving average of $378.57 and a 200-day simple moving average of $435.81. 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 (NASDAQ:ADBE - Get Free Report) last issued its quarterly 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 firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the company posted $4.48 EPS. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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.