Mizuho Securities USA LLC Has $18.55 Million Position in Adobe Inc. (NASDAQ:ADBE)

Mizuho Securities USA LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 45.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,721 shares of the software company’s stock after buying an additional 12,969 shares during the period. Mizuho Securities USA LLC’s holdings in Adobe were worth $18,552,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADBE. Proficio Capital Partners LLC boosted its position in Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after buying an additional 1,041,513 shares during the period. FMR LLC boosted its position in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Raymond James Financial Inc. acquired a new stake in Adobe during the 4th quarter worth approximately $243,827,000. Assenagon Asset Management S.A. boosted its position in Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the period. Finally, Seilern Investment Management Ltd bought a new position in Adobe during the 4th quarter worth approximately $110,744,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday. Piper Sandler lowered their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Evercore ISI lowered their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada restated an “outperform” rating and set a $530.00 price target on shares of Adobe in a report on Wednesday. Finally, Citigroup lowered their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $538.80.

Adobe Price Performance

ADBE opened at $387.26 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $168.62 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 2.15 and a beta of 1.37. The firm’s fifty day moving average price is $434.16 and its two-hundred day moving average price is $476.46. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the firm earned $4.48 EPS. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.