Mizuho Markets Cayman LP Has $479,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Mizuho Markets Cayman LP trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 17.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 925 shares of the software company’s stock after selling 200 shares during the period. Adobe accounts for about 2.0% of Mizuho Markets Cayman LP’s portfolio, making the stock its 13th biggest holding. Mizuho Markets Cayman LP’s holdings in Adobe were worth $479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Piscataqua Savings Bank boosted its position in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Summit Securities Group LLC bought a new stake in shares of Adobe during the second quarter worth approximately $33,000. Lynx Investment Advisory acquired a new position in shares of Adobe in the second quarter valued at approximately $39,000. Hobbs Group Advisors LLC acquired a new stake in Adobe during the 2nd quarter worth approximately $39,000. Finally, Highline Wealth Partners LLC bought a new stake in Adobe in the 3rd quarter valued at $38,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $625.00 target price on shares of Adobe in a report on Friday, September 13th. Stifel Nicolaus boosted their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a report on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Citigroup raised their price objective on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $606.40.

Insider Activity

In related news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 23.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,187 shares of company stock valued at $17,736,369. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $503.37 on Friday. The business’s 50-day moving average price is $509.79 and its 200-day moving average price is $517.96. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $221.58 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 2.74 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.26 earnings per share. Equities research analysts forecast that Adobe Inc. will post 14.82 EPS 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.