Nan Shan Life Insurance Co. Ltd. Sells 555 Shares of Adobe Inc. $ADBE

Nan Shan Life Insurance Co. Ltd. lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,215 shares of the software company’s stock after selling 555 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in Adobe were worth $32,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Copia Wealth Management purchased a new position in Adobe during the 4th quarter valued at about $28,000. SWAN Capital LLC purchased a new position in shares of Adobe during the 4th quarter worth approximately $28,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe during the 1st quarter worth approximately $26,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe during the 1st quarter worth approximately $30,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Adobe during the 4th quarter worth approximately $36,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ADBE shares. Evercore ISI reiterated an “outperform” rating and set a $475.00 target price on shares of Adobe in a report on Friday, June 13th. Oppenheimer reduced their target price on Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, June 13th. UBS Group upped their target price on Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a report on Monday, June 9th. DA Davidson reiterated a “buy” rating and set a $500.00 target price on shares of Adobe in a report on Friday, June 20th. Finally, Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $467.58.

Adobe Stock Performance

ADBE stock opened at $357.24 on Tuesday. The stock has a market capitalization of $151.54 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.68 and a beta of 1.51. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $587.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock’s 50 day simple moving average is $370.66 and its 200 day simple moving average is $391.57.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.48 EPS. As a group, research analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.