Nomura Asset Management Co. Ltd. Acquires 18,614 Shares of Adobe Inc. (NASDAQ:ADBE)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 299,512 shares of the software company’s stock after acquiring an additional 18,614 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.07% of Adobe worth $133,187,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Legacy Investment Solutions LLC acquired a new stake in Adobe during the 3rd quarter valued at $26,000. Groupama Asset Managment lifted its stake in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the period. Decker Retirement Planning Inc. acquired a new position in Adobe in the 4th quarter valued at about $31,000. Finally, Caitlin John LLC raised its holdings in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after acquiring an additional 48 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In other Adobe news, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Summit Redstone set a $410.00 price target on Adobe in a research note on Wednesday, March 19th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Piper Sandler reduced their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company decreased their price target on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research note on Wednesday, January 15th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $533.85.

Adobe Stock Down 0.4 %

Adobe stock opened at $396.15 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $432.69 and its two-hundred day moving average price is $471.70. The firm has a market capitalization of $172.49 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the business earned $4.48 EPS. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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.