MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 1,190 Shares of Adobe Inc. (NASDAQ:ADBE)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 29.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,201 shares of the software company’s stock after acquiring an additional 1,190 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Adobe were worth $2,319,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Onyx Bridge Wealth Group LLC lifted its stake in Adobe by 4.0% in the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after purchasing an additional 20 shares during the last quarter. Connable Office Inc. increased its holdings in shares of Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after buying an additional 20 shares during the period. 1ST Source Bank lifted its stake in shares of Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after acquiring an additional 20 shares during the last quarter. Next Capital Management LLC boosted its holdings in Adobe by 3.2% during the 2nd quarter. Next Capital Management LLC now owns 678 shares of the software company’s stock valued at $377,000 after acquiring an additional 21 shares during the period. Finally, James J. Burns & Company LLC grew its position in Adobe by 5.6% during the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after acquiring an additional 22 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Adobe Trading Down 0.0 %

NASDAQ:ADBE opened at $437.28 on Friday. The stock has a market cap of $190.35 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.11 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average price is $471.36 and its 200-day moving average price is $509.54. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.52 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Bank of America dropped their price objective on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Barclays dropped their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Mizuho decreased their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

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.