Elo Mutual Pension Insurance Co Has $22.84 Million Position in Adobe Inc. (NASDAQ:ADBE)

Elo Mutual Pension Insurance Co lessened its position in Adobe Inc. (NASDAQ:ADBE) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,107 shares of the software company’s stock after selling 193 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Adobe were worth $22,837,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Tradewinds Capital Management LLC grew its stake in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC raised its position in shares of Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares during the period. Summit Securities Group LLC acquired a new position in Adobe in the 2nd quarter valued at about $33,000. Steph & Co. grew its stake in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after buying an additional 30 shares during the last quarter. Finally, Lynx Investment Advisory bought a new position in Adobe in the 2nd quarter valued at about $39,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the sale, the chief executive officer now owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,501,989. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the completion of the sale, the chief executive officer now directly owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The disclosure for this sale can be found here. Insiders sold a total of 27,259 shares of company stock worth $14,855,543 over the last three months. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. KeyCorp upped their target price on Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a research report on Friday, June 14th. Robert W. Baird boosted their price objective on shares of Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a report on Friday, June 14th. JPMorgan Chase & Co. upgraded Adobe from a “neutral” rating to an “overweight” rating and upped their target price for the company from $570.00 to $580.00 in a research report on Friday, June 14th. Citigroup raised their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, Mizuho reaffirmed a “buy” rating and issued a $640.00 price target (down previously from $680.00) on shares of Adobe in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $606.58.

Adobe Stock Down 1.2 %

Shares of NASDAQ:ADBE opened at $515.03 on Wednesday. The business has a fifty day simple moving average of $551.66 and a 200 day simple moving average of $519.07. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The firm has a market cap of $228.36 billion, a P/E ratio of 46.27, a P/E/G ratio of 3.03 and a beta of 1.29. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.26 earnings per share. Analysts predict that Adobe Inc. will post 14.69 earnings per share for the current 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.