Fosun International Ltd Boosts Holdings in Adobe Inc. (NASDAQ:ADBE)

Fosun International Ltd raised its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 49.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,579 shares of the software company's stock after buying an additional 1,521 shares during the quarter. Adobe comprises about 0.6% of Fosun International Ltd's portfolio, making the stock its 11th largest position. Fosun International Ltd's holdings in Adobe were worth $2,036,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the 4th quarter valued at about $31,000. Summit Securities Group LLC acquired a new position in shares of Adobe during the fourth quarter worth approximately $31,000. Caitlin John LLC raised its position in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after purchasing an additional 48 shares during the period. Avion Wealth grew its position in Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after purchasing an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC increased its stake in Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reduced their target price on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Robert W. Baird cut their target price on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. Finally, Jefferies Financial Group reduced their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

Adobe Trading Up 1.0%

Shares of ADBE stock traded up $3.94 during trading hours on Thursday, reaching $403.41. The company's stock had a trading volume of 1,445,213 shares, compared to its average volume of 3,425,365. The firm's fifty day simple moving average is $376.62 and its 200 day simple moving average is $435.30. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The stock has a market capitalization of $171.93 billion, a P/E ratio of 32.54, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the company earned $4.48 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS 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.