Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $128.60 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Adobe Inc. (NASDAQ:ADBEGet Rating) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,262 shares of the software company’s stock after purchasing an additional 14,916 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.06% of Adobe worth $128,604,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vident Investment Advisory LLC lifted its position in shares of Adobe by 17.7% in the fourth quarter. Vident Investment Advisory LLC now owns 8,751 shares of the software company’s stock worth $4,962,000 after buying an additional 1,318 shares during the last quarter. PFG Advisors lifted its position in shares of Adobe by 8.1% in the first quarter. PFG Advisors now owns 4,403 shares of the software company’s stock worth $2,006,000 after buying an additional 330 shares during the last quarter. Mirova US LLC lifted its position in shares of Adobe by 26.5% in the first quarter. Mirova US LLC now owns 606,103 shares of the software company’s stock worth $276,157,000 after buying an additional 126,810 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Adobe in the fourth quarter worth about $35,000. Finally, Rather & Kittrell Inc. acquired a new stake in shares of Adobe in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 82.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ADBE shares. Barclays cut their price objective on Adobe from $530.00 to $445.00 and set an “overweight” rating for the company in a research report on Friday, June 17th. Robert W. Baird cut their price objective on Adobe from $550.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, June 17th. BMO Capital Markets started coverage on Adobe in a research report on Friday, June 17th. They set a “buy” rating and a $420.00 price objective for the company. UBS Group cut their price objective on Adobe from $450.00 to $415.00 and set a “neutral” rating for the company in a research report on Friday, June 17th. Finally, Stifel Nicolaus cut their price objective on Adobe from $600.00 to $500.00 in a research report on Friday, June 17th. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $489.31.

Adobe Stock Down 1.0 %

Shares of Adobe stock traded down $4.34 on Friday, reaching $426.25. 51,982 shares of the company were exchanged, compared to its average volume of 2,249,972. Adobe Inc. has a one year low of $338.00 and a one year high of $699.54. The company has a 50-day moving average of $392.89 and a 200 day moving average of $428.29. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $199.49 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 2.34 and a beta of 1.12.

Adobe (NASDAQ:ADBEGet Rating) last posted its quarterly earnings data on Thursday, June 16th. The software company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.05. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.34 billion. Adobe had a net margin of 29.29% and a return on equity of 36.70%. During the same quarter in the previous year, the firm posted $2.56 EPS. On average, equities research analysts forecast that Adobe Inc. will post 10.99 earnings per share for the current year.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 2,711 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $393.58, for a total transaction of $1,066,995.38. Following the sale, the executive vice president now directly owns 26,089 shares of the company’s stock, valued at approximately $10,268,108.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Scott Belsky sold 2,711 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $393.58, for a total transaction of $1,066,995.38. Following the transaction, the executive vice president now directly owns 26,089 shares of the company’s stock, valued at $10,268,108.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Ann Lewnes sold 794 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $400.00, for a total transaction of $317,600.00. Following the sale, the chief marketing officer now directly owns 23,988 shares of the company’s stock, valued at $9,595,200. The disclosure for this sale can be found here. Insiders sold a total of 3,637 shares of company stock worth $1,438,682 in the last three months. 0.23% of the stock is owned by corporate insiders.

Adobe Profile

(Get Rating)

Adobe Inc 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.

Featured Articles

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBEGet Rating).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.