MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires 5,989 Shares of Adobe Inc. (NASDAQ:ADBE)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Adobe Inc. (NASDAQ:ADBEGet Rating) by 177.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,368 shares of the software company’s stock after purchasing an additional 5,989 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Adobe were worth $4,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Garde Capital Inc. increased its position in shares of Adobe by 2.7% during the third quarter. Garde Capital Inc. now owns 675 shares of the software company’s stock valued at $389,000 after acquiring an additional 18 shares in the last quarter. Bath Savings Trust Co increased its position in shares of Adobe by 0.6% during the fourth quarter. Bath Savings Trust Co now owns 3,102 shares of the software company’s stock valued at $1,759,000 after acquiring an additional 20 shares in the last quarter. Eastover Investment Advisors LLC increased its position in shares of Adobe by 0.8% during the fourth quarter. Eastover Investment Advisors LLC now owns 2,657 shares of the software company’s stock valued at $1,507,000 after acquiring an additional 20 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Adobe by 1.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,322 shares of the software company’s stock valued at $750,000 after acquiring an additional 20 shares in the last quarter. Finally, Howland Capital Management LLC increased its position in shares of Adobe by 2.2% during the fourth quarter. Howland Capital Management LLC now owns 940 shares of the software company’s stock valued at $533,000 after acquiring an additional 20 shares in the last quarter. 82.54% of the stock is owned by institutional investors and hedge funds.

In other news, Director John E. Warnock sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $404.30, for a total value of $2,021,500.00. Following the completion of the sale, the director now owns 405,165 shares of the company’s stock, valued at approximately $163,808,209.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $435.44, for a total transaction of $1,197,460.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,075 shares of company stock valued at $4,596,246. 0.23% of the stock is owned by corporate insiders.

Adobe stock opened at $365.33 on Thursday. The stock has a market cap of $172.62 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.04. Adobe Inc. has a 1 year low of $338.00 and a 1 year high of $699.54. The firm has a 50-day moving average of $403.52 and a two-hundred day moving average of $467.67.

Adobe (NASDAQ:ADBEGet Rating) last released its quarterly earnings data on Thursday, June 16th. The software company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. Adobe had a net margin of 29.29% and a return on equity of 36.70%. During the same period in the previous year, the business posted $2.56 earnings per share. Research analysts expect that Adobe Inc. will post 10.98 earnings per share for the current year.

ADBE has been the subject of a number of research analyst reports. Jefferies Financial Group cut their target price on shares of Adobe from $550.00 to $500.00 in a research report on Friday, June 17th. Credit Suisse Group cut their target price on shares of Adobe from $525.00 to $425.00 and set a “neutral” rating for the company in a research report on Friday, June 17th. Piper Sandler dropped their price target on shares of Adobe from $545.00 to $430.00 and set an “overweight” rating on the stock in a research note on Friday, June 17th. Robert W. Baird dropped their price target on shares of Adobe from $550.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, June 17th. Finally, Wolfe Research lowered their target price on shares of Adobe from $500.00 to $400.00 and set an “outperform” rating on the stock in a research note on Friday, June 17th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $489.31.

About Adobe (Get Rating)

Adobe Inc 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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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