Mizuho Markets Cayman LP Has $479,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Mizuho Markets Cayman LP trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 17.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 925 shares of the software company’s stock after selling 200 shares during the quarter. Adobe accounts for 2.0% of Mizuho Markets Cayman LP’s portfolio, making the stock its 13th largest holding. Mizuho Markets Cayman LP’s holdings in Adobe were worth $479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ADBE. Piscataqua Savings Bank increased its position in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Summit Securities Group LLC bought a new stake in Adobe in the 2nd quarter valued at $33,000. Highline Wealth Partners LLC acquired a new position in shares of Adobe in the 3rd quarter valued at $38,000. Lynx Investment Advisory bought a new position in shares of Adobe during the 2nd quarter worth about $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Adobe during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 5.0 %

NASDAQ ADBE opened at $503.37 on Friday. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The stock has a 50-day simple moving average of $509.79 and a 200 day simple moving average of $517.96. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $221.58 billion, a PE ratio of 42.51, a P/E/G ratio of 2.74 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.26 EPS. Research analysts forecast that Adobe Inc. will post 14.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Citigroup raised their target price on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 price objective on shares of Adobe in a report on Tuesday, October 15th. Finally, StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average price target of $606.40.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction that occurred 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 sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,187 shares of company stock valued at $17,736,369. Company insiders own 0.15% of the company’s stock.

Adobe 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.