Nissay Asset Management Corp Japan ADV Acquires 4,884 Shares of Adobe Inc. (NASDAQ:ADBE)

Nissay Asset Management Corp Japan ADV increased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,624 shares of the software company's stock after acquiring an additional 4,884 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Adobe were worth $46,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Nan Shan Life Insurance Co. Ltd. lifted its holdings in shares of Adobe by 1.7% during the fourth quarter. Nan Shan Life Insurance Co. Ltd. now owns 85,770 shares of the software company's stock valued at $38,140,000 after purchasing an additional 1,426 shares during the last quarter. NorthRock Partners LLC lifted its holdings in shares of Adobe by 47.6% during the fourth quarter. NorthRock Partners LLC now owns 6,866 shares of the software company's stock valued at $3,053,000 after purchasing an additional 2,215 shares during the last quarter. Northeast Financial Consultants Inc lifted its holdings in shares of Adobe by 7.8% during the fourth quarter. Northeast Financial Consultants Inc now owns 2,061 shares of the software company's stock valued at $916,000 after purchasing an additional 150 shares during the last quarter. Numerai GP LLC purchased a new position in shares of Adobe during the fourth quarter valued at approximately $2,357,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Adobe by 0.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 342,332 shares of the software company's stock valued at $152,228,000 after acquiring an additional 1,265 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the business's stock in a transaction dated 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 completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADBE. UBS Group reduced their price target on Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Mizuho reduced their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company reduced their price objective on Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Piper Sandler reduced their price target on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets reduced their price target on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Eleven research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Trading Up 0.4%

ADBE stock opened at $397.40 on Wednesday. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $169.37 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.15 and a beta of 1.55. The business has a 50 day simple moving average of $377.62 and a two-hundred day simple moving average of $435.54.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share 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 business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the company posted $4.48 EPS. Research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.

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