MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Increases Stake in Adobe Inc. (NASDAQ:ADBE)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 29.7% in the fourth quarter, HoldingsChannel reports. The fund owned 5,201 shares of the software company’s stock after purchasing an additional 1,190 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Adobe were worth $2,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Wealth Management LLC increased its position in Adobe by 1.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,327 shares of the software company’s stock worth $590,000 after buying an additional 24 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after acquiring an additional 167 shares during the period. New Century Financial Group LLC increased its holdings in Adobe by 5.8% in the 4th quarter. New Century Financial Group LLC now owns 973 shares of the software company’s stock worth $419,000 after acquiring an additional 53 shares in the last quarter. Key Client Fiduciary Advisors LLC raised its stake in Adobe by 6.9% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 1,235 shares of the software company’s stock worth $549,000 after acquiring an additional 80 shares during the period. Finally, Secure Asset Management LLC boosted its position in shares of Adobe by 7.1% in the fourth quarter. Secure Asset Management LLC now owns 1,175 shares of the software company’s stock worth $522,000 after purchasing an additional 78 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ADBE. Bank of America lowered their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. UBS Group decreased their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Finally, StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Trading Down 0.0 %

ADBE opened at $437.28 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s 50 day moving average price is $471.36 and its 200-day moving average price is $509.54. Adobe Inc. has a one year low of $403.75 and a one year high of $638.25. The stock has a market cap of $190.35 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 2.11 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the company posted $3.52 EPS. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

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.