Adobe Inc. (NASDAQ:ADBE) Shares Bought by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. grew its position in Adobe Inc. (NASDAQ:ADBE) by 20.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,651 shares of the software company’s stock after purchasing an additional 1,805 shares during the period. Adobe makes up 0.7% of Global X Japan Co. Ltd.’s holdings, making the stock its 26th largest position. Global X Japan Co. Ltd.’s holdings in Adobe were worth $5,515,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ADBE. Mainsail Financial Group LLC boosted its position in Adobe by 20.5% in the third quarter. Mainsail Financial Group LLC now owns 2,793 shares of the software company’s stock valued at $1,380,000 after buying an additional 475 shares during the last quarter. Tempus Wealth Planning LLC lifted its stake in Adobe by 6.6% during the 3rd quarter. Tempus Wealth Planning LLC now owns 402 shares of the software company’s stock valued at $208,000 after acquiring an additional 25 shares during the period. Pictet North America Advisors SA boosted its holdings in shares of Adobe by 798.8% in the 3rd quarter. Pictet North America Advisors SA now owns 5,033 shares of the software company’s stock valued at $2,606,000 after acquiring an additional 4,473 shares during the last quarter. RBA Wealth Management LLC increased its stake in shares of Adobe by 1.8% in the third quarter. RBA Wealth Management LLC now owns 10,906 shares of the software company’s stock worth $5,647,000 after acquiring an additional 192 shares during the period. Finally, WT Wealth Management increased its stake in shares of Adobe by 8.4% in the third quarter. WT Wealth Management now owns 4,675 shares of the software company’s stock worth $2,314,000 after acquiring an additional 362 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Adobe news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,608 shares of company stock worth $17,486,391. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $635.00 price target on shares of Adobe in a report on Friday, July 12th. Sanford C. Bernstein dropped their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Barclays upped their price objective on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Finally, StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report 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 given a strong buy rating to the company. According to data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Price Performance

Adobe stock opened at $493.11 on Wednesday. The company has a fifty day simple moving average of $533.94 and a 200-day simple moving average of $516.05. The firm has a market capitalization of $218.64 billion, a price-to-earnings ratio of 44.30, a PEG ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the company earned $3.26 EPS. Adobe’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Adobe Inc. will post 14.8 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.