8,378 Shares in Adobe Inc. (NASDAQ:ADBE) Acquired by Generali Investments CEE investicni spolecnost a.s.

Generali Investments CEE investicni spolecnost a.s. acquired a new position in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,378 shares of the software company’s stock, valued at approximately $3,726,000.

A number of other large investors also recently added to or reduced their stakes in ADBE. Legacy Investment Solutions LLC acquired a new position in Adobe during the third quarter worth $26,000. Groupama Asset Managment lifted its stake in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Adobe during the third quarter worth $30,000. True Wealth Design LLC lifted its stake in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in Adobe during the fourth quarter worth $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE stock opened at $449.40 on Friday. The stock’s 50-day moving average is $439.56 and its two-hundred day moving average is $487.67. The firm has a market cap of $195.62 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. 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 (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.52 EPS. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the 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 sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $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. Insiders sold 5,075 shares of company stock worth $2,191,826 over the last 90 days. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on ADBE shares. Piper Sandler decreased their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group reduced their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Citigroup reduced their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. BMO Capital Markets reduced their price objective on Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, TD Cowen cut Adobe from a “buy” rating to a “hold” rating and reduced their price objective for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $567.81.

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.