Sava Infond d.o.o. Purchases Shares of 9,085 Adobe Inc. (NASDAQ:ADBE)

Sava Infond d.o.o. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,085 shares of the software company’s stock, valued at approximately $4,040,000. Adobe makes up 0.7% of Sava Infond d.o.o.’s investment portfolio, making the stock its 29th largest holding.

Several other large investors also recently made changes to their positions in ADBE. Proficio Capital Partners LLC raised its position in Adobe by 82,528.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after acquiring an additional 1,041,513 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Adobe during the 4th quarter worth about $243,827,000. Assenagon Asset Management S.A. raised its holdings in shares of Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares during the period. Seilern Investment Management Ltd acquired a new stake in Adobe in the 4th quarter valued at about $110,744,000. Finally, Erste Asset Management GmbH bought a new position in Adobe during the third quarter worth about $126,703,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by insiders.

Adobe Stock Down 1.4 %

NASDAQ ADBE opened at $397.81 on Thursday. The business has a fifty day moving average price of $433.31 and a two-hundred day moving average price of $472.23. The stock has a market capitalization of $173.21 billion, a PE ratio of 32.08, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

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

Wall Street Analyst Weigh In

ADBE has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Sanford C. Bernstein dropped their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Morgan Stanley dropped their price objective on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Bank of America cut their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $533.85.

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.