Nomura Holdings Inc. Grows Holdings in Adobe Inc. (NASDAQ:ADBE)

Nomura Holdings Inc. boosted its holdings in Adobe Inc. (NASDAQ:ADBEFree Report) by 222.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,328 shares of the software company’s stock after purchasing an additional 9,194 shares during the quarter. Nomura Holdings Inc.’s holdings in Adobe were worth $7,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Wetzel Investment Advisors Inc. purchased a new position in Adobe during the 4th quarter worth $35,000. Hanseatic Management Services Inc. purchased a new position in Adobe during the 3rd quarter worth $45,000. BKM Wealth Management LLC purchased a new position in Adobe during the 4th quarter worth $65,000. First United Bank & Trust purchased a new position in Adobe during the 4th quarter worth $74,000. Finally, Fortitude Family Office LLC purchased a new position in Adobe during the 4th quarter worth $75,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 1.2 %

NASDAQ ADBE opened at $459.94 on Tuesday. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company’s 50 day moving average price is $475.87 and its 200 day moving average price is $544.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $206.05 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 2.52 and a beta of 1.27.

Adobe (NASDAQ:ADBEGet Free Report) last posted its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.38 by $0.10. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm posted $2.97 earnings per share. Adobe’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Adobe Inc. will post 14.55 EPS for the current year.

Adobe announced that its board has initiated a share repurchase plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADBE. KeyCorp began coverage on shares of Adobe in a research note on Thursday, March 21st. They set an “underweight” rating and a $445.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Piper Sandler reaffirmed an “overweight” rating and set a $700.00 price target on shares of Adobe in a research note on Wednesday, March 27th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, March 28th. Finally, UBS Group lowered their price objective on shares of Adobe from $600.00 to $540.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus price target of $600.97.

Get Our Latest Stock Analysis on Adobe

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Adobe news, insider Anil Chakravarthy sold 100 shares of Adobe stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the transaction, the insider now owns 33,609 shares of the company’s stock, valued at $15,829,839. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The disclosure for this sale can be found here. Insiders sold 3,006 shares of company stock valued at $1,424,432 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

Adobe Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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