Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Aviva PLC

Aviva PLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE – Get Rating) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 395,971 shares of the software company’s stock after buying an additional 2,020 shares during the period. Adobe makes up approximately 0.6% of Aviva PLC’s portfolio, making the stock its 18th largest position. Aviva PLC owned about 0.09% of Adobe worth $133,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arcus Capital Partners LLC acquired a new position in shares of Adobe during the fourth quarter worth $26,000. TD Capital Management LLC purchased a new position in Adobe in the third quarter valued at about $28,000. First Financial Corp IN increased its holdings in Adobe by 52.1% in the fourth quarter. First Financial Corp IN now owns 108 shares of the software company’s stock valued at $36,000 after buying an additional 37 shares in the last quarter. Pacifica Partners Inc. increased its holdings in Adobe by 1,111.1% in the fourth quarter. Pacifica Partners Inc. now owns 109 shares of the software company’s stock valued at $37,000 after buying an additional 100 shares in the last quarter. Finally, My Personal CFO LLC purchased a new position in Adobe in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 79.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Adobe from $395.00 to $415.00 and gave the company an “outperform” rating in a research report on Wednesday, March 22nd. Credit Suisse Group increased their price target on shares of Adobe from $325.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, March 17th. Morgan Stanley raised their target price on shares of Adobe from $382.00 to $385.00 and gave the company an “equal weight” rating in a research note on Thursday, March 16th. Piper Sandler reaffirmed an “overweight” rating and set a $415.00 price target on shares of Adobe in a research note on Wednesday, March 22nd. Finally, Wolfe Research decreased their price objective on shares of Adobe from $440.00 to $420.00 in a report on Thursday, March 16th. Sixteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Adobe currently has an average rating of “Hold” and an average target price of $388.00.

Adobe Trading Up 0.2 %

Adobe stock opened at $372.05 on Tuesday. Adobe Inc. has a 52-week low of $274.73 and a 52-week high of $451.15. The firm has a market capitalization of $170.66 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.27 and a beta of 1.31. The firm has a 50-day moving average price of $365.63 and a two-hundred day moving average price of $350.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.26.

Adobe (NASDAQ:ADBE – Get Rating) last released its quarterly earnings results on Wednesday, March 15th. The software company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.12. Adobe had a net margin of 26.32% and a return on equity of 36.53%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the previous year, the firm earned $2.84 EPS. Adobe’s revenue was up 9.2% on a year-over-year basis. Sell-side analysts expect that Adobe Inc. will post 12.26 earnings per share for the current year.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 132 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $354.78, for a total value of $46,830.96. Following the completion of the sale, the chief accounting officer now directly owns 3,610 shares of the company’s stock, valued at $1,280,755.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Mark S. Garfield sold 132 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $354.78, for a total value of $46,830.96. Following the completion of the sale, the chief accounting officer now directly owns 3,610 shares in the company, valued at $1,280,755.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John E. Warnock sold 672 shares of the company’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $378.94, for a total transaction of $254,647.68. Following the transaction, the director now owns 378,965 shares of the company’s stock, valued at $143,604,997.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,304 shares of company stock valued at $3,055,314. Corporate insiders own 0.24% of the company’s stock.

Adobe Company Profile

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Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.