Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 593.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,788 shares of the software company’s stock after buying an additional 53,729 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Adobe were worth $27,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after buying an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board raised its position in Adobe by 12.2% during the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after acquiring an additional 2,100 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Adobe by 28.0% in the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after purchasing an additional 1,412 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after purchasing an additional 78,384 shares in the last quarter. Finally, Morse Asset Management Inc raised its position in shares of Adobe by 33.0% during the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after purchasing an additional 2,113 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

NASDAQ:ADBE opened at $435.38 on Friday. The firm’s fifty day simple moving average is $469.50 and its 200 day simple moving average is $509.04. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The firm has a market capitalization of $189.52 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the firm posted $3.52 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ADBE shares. Bank of America lowered their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Citigroup decreased their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Sanford C. Bernstein cut their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Mizuho decreased their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Adobe Company 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.