Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 71.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,200 shares of the software company’s stock after acquiring an additional 500 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Adobe were worth $621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. ST Germain D J Co. Inc. lifted its holdings in Adobe by 12.1% in the third quarter. ST Germain D J Co. Inc. now owns 13,631 shares of the software company’s stock worth $7,058,000 after purchasing an additional 1,470 shares during the period. Slow Capital Inc. lifted its stake in shares of Adobe by 4.2% in the 3rd quarter. Slow Capital Inc. now owns 6,611 shares of the software company’s stock worth $3,423,000 after acquiring an additional 266 shares during the period. Chronos Wealth Management LLC lifted its stake in shares of Adobe by 5.8% in the 3rd quarter. Chronos Wealth Management LLC now owns 6,604 shares of the software company’s stock worth $3,419,000 after acquiring an additional 364 shares during the period. Capital Investment Advisors LLC boosted its holdings in shares of Adobe by 14.1% in the third quarter. Capital Investment Advisors LLC now owns 6,378 shares of the software company’s stock valued at $3,302,000 after acquiring an additional 789 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Adobe by 29.9% during the third quarter. Blue Trust Inc. now owns 7,752 shares of the software company’s stock valued at $4,306,000 after acquiring an additional 1,786 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the completion of the sale, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the transaction, the executive vice president now owns 19,658 shares in the company, valued at $10,556,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,608 shares of company stock valued at $17,486,391 over the last three months. 0.15% of the stock is currently owned by insiders.

Adobe Stock Down 0.4 %

ADBE traded down $1.93 during trading on Friday, reaching $494.90. 2,011,121 shares of the stock traded hands, compared to its average volume of 3,216,828. The stock’s 50-day simple moving average is $535.45 and its two-hundred day simple moving average is $515.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The stock has a market cap of $219.44 billion, a price-to-earnings ratio of 44.47, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.26 EPS. As a group, equities research analysts expect that Adobe Inc. will post 14.8 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of research reports. Stifel Nicolaus increased their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $610.00 target price on shares of Adobe in a report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $635.00 price target on shares of Adobe in a report on Friday, September 13th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research note on Friday, July 12th. Finally, Oppenheimer reissued an “outperform” rating and set a $625.00 target price on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.