Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,340 shares of the software company’s stock after acquiring an additional 25,543 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Adobe worth $114,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ADBE. Proficio Capital Partners LLC lifted its holdings in Adobe by 82,528.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after buying an additional 1,041,513 shares in the last quarter. FMR LLC lifted its holdings in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Adobe in the 4th quarter worth $243,827,000. Assenagon Asset Management S.A. lifted its holdings in Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares in the last quarter. Finally, Seilern Investment Management Ltd acquired a new position in Adobe in the 4th quarter worth $110,744,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 over the last ninety days. Insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.0 %

Shares of NASDAQ:ADBE opened at $449.40 on Monday. The company has a 50 day moving average of $439.56 and a 200-day moving average of $486.60. The firm has a market cap of $195.67 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. 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 (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.52 EPS. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Sanford C. Bernstein dropped their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group dropped their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Redburn Atlantic assumed coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $567.81.

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.