228,992 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 228,992 shares of the software company’s stock, valued at approximately $101,828,000. Adobe accounts for about 1.2% of Lansforsakringar Fondforvaltning AB publ’s holdings, making the stock its 17th biggest position.

Other large investors have also bought and sold shares of the company. Siemens Fonds Invest GmbH increased its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares during the last quarter. SWAN Capital LLC purchased a new position in Adobe in the 4th quarter valued at approximately $28,000. Copia Wealth Management purchased a new position in Adobe in the 4th quarter valued at approximately $28,000. Summit Securities Group LLC purchased a new position in shares of Adobe in the fourth quarter valued at $31,000. Finally, Caitlin John LLC grew its position in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE opened at $413.10 on Wednesday. The firm has a market cap of $176.06 billion, a PE ratio of 33.31, 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 1-year low of $332.01 and a 1-year high of $587.75. The firm has a fifty day simple moving average of $378.00 and a two-hundred day simple moving average of $430.23.

Adobe (NASDAQ:ADBE) last released its quarterly 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 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 firm earned $4.48 EPS. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

ADBE has been the subject of a number of recent analyst reports. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. BMO Capital Markets reduced their price objective on shares of Adobe from $495.00 to $450.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Summit Redstone set a $410.00 price objective on shares of Adobe in a research note on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price target on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Morgan Stanley reduced their price target on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe 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 purchased 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

About Adobe

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.