Nan Shan Life Insurance Co. Ltd. Buys 1,426 Shares of Adobe Inc. (NASDAQ:ADBE)

Nan Shan Life Insurance Co. Ltd. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 85,770 shares of the software company's stock after purchasing an additional 1,426 shares during the quarter. Nan Shan Life Insurance Co. Ltd.'s holdings in Adobe were worth $38,140,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ADBE. Sepio Capital LP raised its position in shares of Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after buying an additional 22 shares in the last quarter. Cadence Bank raised its holdings in Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC lifted its position in Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares during the period. Foster Group Inc. lifted its position in Adobe by 4.6% in the fourth quarter. Foster Group Inc. now owns 526 shares of the software company's stock worth $234,000 after purchasing an additional 23 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC increased its position in shares of Adobe by 0.4% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock valued at $2,404,000 after purchasing an additional 23 shares during the period. Institutional investors own 81.79% of the company's stock.

Adobe Trading Up 0.4%

Shares of ADBE opened at $397.40 on Wednesday. The stock's fifty day simple moving average is $377.62 and its 200-day simple moving average is $435.54. The firm has a market capitalization of $169.37 billion, a PE 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 company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the previous year, the company posted $4.48 EPS. As a group, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup reduced their target price on Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a report on Monday, March 10th. BNP Paribas upgraded Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target on the stock in a report on Wednesday, January 15th. DA Davidson decreased their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus dropped their target price on Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Finally, Piper Sandler decreased their price target on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $502.88.

Insider Transactions at Adobe

In other news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company's stock.

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.

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