Adobe Inc. (NASDAQ:ADBE) is Generali Investments Towarzystwo Funduszy Inwestycyjnych’s 5th Largest Position

Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its position in Adobe Inc. (NASDAQ:ADBE) by 29.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,216 shares of the software company’s stock after buying an additional 3,200 shares during the quarter. Adobe makes up approximately 3.7% of Generali Investments Towarzystwo Funduszy Inwestycyjnych’s portfolio, making the stock its 5th biggest position. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Adobe were worth $6,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ADBE. Proficio Capital Partners LLC boosted its stake in Adobe by 82,528.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after buying an additional 1,041,513 shares in the last quarter. FMR LLC boosted its stake in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares during the period. Seilern Investment Management Ltd purchased a new stake in shares of Adobe during the fourth quarter valued at approximately $110,744,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Adobe during the third quarter valued at approximately $126,703,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $437.19 on Friday. 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 current ratio of 1.07 and a quick ratio of 1.07. The business has a fifty day moving average price of $439.88 and a 200-day moving average price of $491.88. The company has a market capitalization of $190.31 billion, a PE ratio of 35.26, a PEG ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share 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 firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the company earned $3.52 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 over the last ninety days. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ADBE shares. BMO Capital Markets dropped their price objective on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus dropped their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. UBS Group dropped their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Oppenheimer dropped their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $570.88.

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.