Generali Investments Management Co LLC Invests $3.03 Million in Adobe Inc. (NASDAQ:ADBE)

Generali Investments Management Co LLC acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,802 shares of the software company’s stock, valued at approximately $3,025,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GM Advisory Group LLC purchased a new stake in Adobe in the fourth quarter valued at $355,000. Harvest Fund Management Co. Ltd boosted its holdings in Adobe by 10.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 25,969 shares of the software company’s stock valued at $11,426,000 after purchasing an additional 2,359 shares during the last quarter. Vinva Investment Management Ltd boosted its holdings in Adobe by 6.6% in the fourth quarter. Vinva Investment Management Ltd now owns 21,913 shares of the software company’s stock valued at $9,769,000 after purchasing an additional 1,362 shares during the last quarter. Bank of Marin boosted its holdings in Adobe by 12.3% in the fourth quarter. Bank of Marin now owns 2,164 shares of the software company’s stock valued at $962,000 after purchasing an additional 237 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Adobe by 1.3% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 82,038 shares of the software company’s stock valued at $36,503,000 after purchasing an additional 1,051 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were 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 approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 in the last 90 days. Company insiders own 0.16% of the company’s stock.

Adobe Stock Down 2.0 %

Shares of NASDAQ ADBE opened at $391.37 on Wednesday. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75. The stock has a market cap of $170.40 billion, a PE ratio of 31.56, a P/E/G ratio of 2.15 and a beta of 1.37. 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 company has a 50-day moving average of $435.77 and a 200 day moving average of $479.02.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the prior year, the company earned $4.48 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America lowered their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Mizuho decreased their price objective on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Robert W. Baird decreased their price objective on shares of Adobe from $500.00 to $490.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Evercore ISI decreased their price objective on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Finally, Oppenheimer decreased their price objective on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $542.00.

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.