Mizuho Securities USA LLC Buys 12,969 Shares of Adobe Inc. (NASDAQ:ADBE)

Mizuho Securities USA LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 45.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the third quarter valued at about $26,000. Groupama Asset Managment increased its position in shares of Adobe by 28.8% in 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 during the last quarter. True Wealth Design LLC increased its position in shares of Adobe by 141.7% in 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 during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Adobe in the fourth quarter worth approximately $31,000. Finally, Caitlin John LLC increased its position in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

Shares of Adobe stock opened at $387.26 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $168.62 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.15 and a beta of 1.37. The business has a fifty day simple moving average of $434.16 and a two-hundred day simple moving average of $476.46. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research report on Wednesday. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday. Stifel Nicolaus decreased their price objective on shares of Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Redburn Atlantic started coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research note on Wednesday, January 15th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $538.80.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction dated Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is currently owned by company insiders.

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.