Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. boosted its position in Adobe Inc. (NASDAQ:ADBE) by 107.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 890 shares of the software company’s stock after purchasing an additional 460 shares during the quarter. Adobe comprises approximately 1.9% of Mizuho Securities Co. Ltd.’s investment portfolio, making the stock its 16th largest position. Mizuho Securities Co. Ltd.’s holdings in Adobe were worth $531,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADBE. One Charles Private Wealth Services LLC boosted its stake in shares of Adobe by 2.2% in the third quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after buying an additional 17 shares in the last quarter. Invst LLC boosted its stake in shares of Adobe by 1.9% in the third quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after buying an additional 17 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Adobe by 3.1% in the third quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after buying an additional 17 shares in the last quarter. Lantz Financial LLC boosted its stake in shares of Adobe by 2.5% in the fourth quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock valued at $411,000 after buying an additional 17 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management boosted its stake in shares of Adobe by 4.3% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after buying an additional 17 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Up 1.3 %

Adobe stock traded up $6.01 during trading on Tuesday, hitting $472.90. The company’s stock had a trading volume of 2,200,448 shares, compared to its average volume of 3,540,307. The stock has a market capitalization of $211.86 billion, a price-to-earnings ratio of 45.21, a P/E/G ratio of 2.52 and a beta of 1.28. The stock’s fifty day moving average is $521.61 and its 200 day moving average is $565.95. Adobe Inc. has a 1-year low of $331.89 and a 1-year high of $638.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Adobe (NASDAQ:ADBE) last released its 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. The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. During the same period in the prior year, the firm posted $2.97 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Adobe Inc. will post 14.55 EPS for the current year.

Adobe declared that its board has approved a stock buyback program on Thursday, March 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 2,191 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total transaction of $1,318,346.61. Following the completion of the sale, the executive vice president now owns 23,508 shares of the company’s stock, valued at $14,144,998.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Anil Chakravarthy sold 100 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the sale, the insider now owns 33,609 shares of the company’s stock, valued at $15,829,839. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 2,191 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the completion of the sale, the executive vice president now directly owns 23,508 shares of the company’s stock, valued at approximately $14,144,998.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,175 shares of company stock valued at $1,895,518. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADBE shares. Evercore ISI restated an “outperform” rating and issued a $650.00 price target on shares of Adobe in a research note on Wednesday, March 27th. Bank of America decreased their price target on Adobe from $700.00 to $640.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. UBS Group reduced their price objective on Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a report on Friday, March 15th. HSBC reduced their price objective on Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a report on Friday, March 15th. Finally, BNP Paribas cut Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price objective for the company. in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $620.72.

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.