Handelsbanken Fonder AB Purchases 9,857 Shares of Adobe Inc. (NASDAQ:ADBE)

Handelsbanken Fonder AB lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,531 shares of the software company’s stock after purchasing an additional 9,857 shares during the quarter. Handelsbanken Fonder AB’s holdings in Adobe were worth $75,832,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ADBE. Mcdaniel Terry & Co. lifted its holdings in Adobe by 2.1% in the 4th quarter. Mcdaniel Terry & Co. now owns 38,153 shares of the software company’s stock worth $16,966,000 after buying an additional 801 shares during the period. Ownership Capital B.V. boosted its holdings in Adobe by 24.1% in the fourth quarter. Ownership Capital B.V. now owns 347,294 shares of the software company’s stock worth $154,435,000 after acquiring an additional 67,541 shares in the last quarter. Elk River Wealth Management LLC raised its holdings in Adobe by 0.4% in the fourth quarter. Elk River Wealth Management LLC now owns 7,516 shares of the software company’s stock worth $3,342,000 after buying an additional 28 shares during the last quarter. Cumberland Partners Ltd boosted its stake in Adobe by 166.4% during the 4th quarter. Cumberland Partners Ltd now owns 7,320 shares of the software company’s stock valued at $3,255,000 after purchasing an additional 4,572 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of Adobe by 22.7% during the 4th quarter. Ieq Capital LLC now owns 65,408 shares of the software company’s stock valued at $29,086,000 after acquiring an additional 12,105 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE stock opened at $456.99 on Thursday. The firm has a 50 day simple moving average of $441.28 and a 200 day simple moving average of $494.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The stock has a market cap of $198.93 billion, a P/E ratio of 36.85, a P/E/G ratio of 2.23 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the firm posted $3.52 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ADBE. DA Davidson cut their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and lowered their target price for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 15th. Barclays dropped their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Finally, UBS Group reduced their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $570.88.

Insider Activity

In other news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $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 ninety days, insiders have sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

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.