Daiwa Securities Group Inc. Has $9.57 Million Holdings in Adobe Inc (ADBE)

Daiwa Securities Group Inc. grew its position in shares of Adobe Inc (NASDAQ:ADBE) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,429 shares of the software company’s stock after purchasing an additional 6,194 shares during the period. Daiwa Securities Group Inc.’s holdings in Adobe were worth $9,567,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Andra AP fonden grew its holdings in shares of Adobe by 0.7% in the third quarter. Andra AP fonden now owns 27,700 shares of the software company’s stock valued at $7,478,000 after acquiring an additional 200 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Adobe by 11.1% in the third quarter. Raymond James Trust N.A. now owns 6,431 shares of the software company’s stock valued at $1,736,000 after acquiring an additional 642 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Adobe by 25.7% in the third quarter. Global Retirement Partners LLC now owns 6,593 shares of the software company’s stock valued at $1,780,000 after acquiring an additional 1,348 shares in the last quarter. BB&T Corp grew its holdings in shares of Adobe by 11.5% in the third quarter. BB&T Corp now owns 43,895 shares of the software company’s stock valued at $11,850,000 after acquiring an additional 4,523 shares in the last quarter. Finally, Davis R M Inc. grew its holdings in shares of Adobe by 19.5% in the third quarter. Davis R M Inc. now owns 1,836 shares of the software company’s stock valued at $496,000 after acquiring an additional 300 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

ADBE has been the subject of several recent analyst reports. Zacks Investment Research raised Adobe from a “hold” rating to a “buy” rating and set a $286.00 target price for the company in a report on Thursday, December 6th. Pivotal Research raised Adobe from a “hold” rating to a “buy” rating and upped their target price for the company from $252.00 to $262.00 in a report on Monday, January 7th. Wedbush initiated coverage on Adobe in a report on Thursday, October 18th. They issued a “neutral” rating and a $270.00 target price for the company. ValuEngine lowered Adobe from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Finally, Nomura began coverage on Adobe in a report on Thursday, November 15th. They set a “buy” rating and a $315.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. Adobe presently has a consensus rating of “Buy” and a consensus target price of $284.62.

In other Adobe news, CMO Ann Lewnes sold 3,000 shares of the stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $240.16, for a total transaction of $720,480.00. Following the sale, the chief marketing officer now owns 75,368 shares in the company, valued at $18,100,378.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bradley Rencher sold 30,000 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $246.46, for a total value of $7,393,800.00. Following the sale, the executive vice president now owns 42,340 shares in the company, valued at approximately $10,435,116.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 282,299 shares of company stock worth $68,899,256. Company insiders own 0.33% of the company’s stock.

Shares of NASDAQ ADBE opened at $260.23 on Thursday. Adobe Inc has a 1-year low of $191.95 and a 1-year high of $277.61. The firm has a market cap of $126.75 billion, a price-to-earnings ratio of 46.89, a PEG ratio of 2.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 1.13.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 13th. The software company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.43 billion. Adobe had a net margin of 28.69% and a return on equity of 31.19%. Adobe’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the company posted $1.26 earnings per share. Analysts anticipate that Adobe Inc will post 6.21 earnings per share for the current year.

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Adobe Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

Further Reading: SEC Filing

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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