Nan Shan Life Insurance Co. Ltd. Acquires 1,426 Shares of Adobe Inc. (NASDAQ:ADBE)

Nan Shan Life Insurance Co. Ltd. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 85,770 shares of the software company’s stock after acquiring an additional 1,426 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in Adobe were worth $38,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fiduciary Alliance LLC lifted its stake in Adobe by 240.3% in the 4th quarter. Fiduciary Alliance LLC now owns 1,984 shares of the software company’s stock valued at $882,000 after acquiring an additional 1,401 shares in the last quarter. Claro Advisors LLC boosted its holdings in Adobe by 2.9% during the fourth quarter. Claro Advisors LLC now owns 1,364 shares of the software company’s stock worth $607,000 after purchasing an additional 38 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in Adobe by 32.5% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,089 shares of the software company’s stock worth $929,000 after purchasing an additional 512 shares during the last quarter. FNY Investment Advisers LLC increased its stake in Adobe by 20,900.0% in the 4th quarter. FNY Investment Advisers LLC now owns 420 shares of the software company’s stock valued at $186,000 after buying an additional 418 shares during the last quarter. Finally, Unique Wealth LLC increased its stake in Adobe by 11.0% in the 4th quarter. Unique Wealth LLC now owns 3,913 shares of the software company’s stock valued at $1,740,000 after buying an additional 387 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Robert W. Baird lowered their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley cut their price objective on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Finally, Citigroup cut their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $502.88.

Insider Buying and Selling

In related news, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $397.40 on Wednesday. The firm has a market cap of $169.37 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The firm’s fifty day moving average is $377.62 and its 200-day moving average is $435.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

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