MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 3,213 Shares of Adobe Inc. (NASDAQ:ADBE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 461,902 shares of the software company's stock after buying an additional 3,213 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.11% of Adobe worth $205,410,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Decker Retirement Planning Inc. bought a new position in shares of Adobe during the fourth quarter worth about $31,000. Summit Securities Group LLC acquired a new stake in Adobe during the fourth quarter valued at approximately $31,000. Caitlin John LLC lifted its holdings in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after buying an additional 48 shares during the last quarter. Mascoma Wealth Management LLC grew its position in shares of Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after acquiring an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Adobe in the 4th quarter valued at approximately $38,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

NASDAQ:ADBE traded up $5.22 during midday trading on Thursday, hitting $404.69. 2,761,601 shares of the stock were exchanged, compared to its average volume of 3,430,094. The company has a market capitalization of $172.48 billion, a price-to-earnings ratio of 32.64, 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 Inc. has a one year low of $332.01 and a one year high of $587.75. The business has a 50-day moving average price of $376.62 and a two-hundred day moving average price of $435.30.

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 for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the prior year, the company earned $4.48 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In other news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADBE. BNP Paribas raised shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. Bank of America decreased their price target on shares of Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price objective on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Jefferies Financial Group cut their target price on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Summit Redstone set a $410.00 target price on Adobe in a report on Wednesday, March 19th. 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 company's stock. According to data from MarketBeat, Adobe has an average rating of "Moderate Buy" and an average price target of $502.88.

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.