Norinchukin Bank The Acquires 2,785 Shares of Adobe Inc. (NASDAQ:ADBE)

Norinchukin Bank The boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,449 shares of the software company’s stock after purchasing an additional 2,785 shares during the period. Norinchukin Bank The’s holdings in Adobe were worth $12,651,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADBE. Decker Retirement Planning Inc. purchased a new position in shares of Adobe in the 4th quarter worth about $31,000. Summit Securities Group LLC bought a new stake in Adobe in the fourth quarter worth about $31,000. Caitlin John LLC boosted its stake in 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 acquiring an additional 48 shares during the last quarter. Mascoma Wealth Management LLC grew its position in shares of Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after acquiring an additional 50 shares during the period. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Adobe during the 4th quarter valued at approximately $38,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.3 %

Shares of Adobe stock opened at $348.80 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The firm has a market cap of $148.66 billion, a PE ratio of 28.13, a PEG ratio of 2.15 and a beta of 1.49. The company has a 50 day simple moving average of $403.54 and a two-hundred day simple moving average of $450.43.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the firm posted $4.48 EPS. Analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, 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 transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on ADBE. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. Oppenheimer lowered their target price on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. DA Davidson cut their price target on Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research note on Monday, April 14th. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $513.27.

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.