Tokio Marine Asset Management Co. Ltd. Buys 1,041 Shares of Adobe Inc. (NASDAQ:ADBE)

Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% in the third quarter, HoldingsChannel reports. The firm owned 48,533 shares of the software company’s stock after buying an additional 1,041 shares during the period. Adobe makes up approximately 1.1% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 16th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Adobe were worth $25,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Metis Global Partners LLC boosted its position in shares of Adobe by 1.1% in the 3rd quarter. Metis Global Partners LLC now owns 26,727 shares of the software company’s stock worth $13,839,000 after purchasing an additional 280 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of Adobe by 2.2% during the third quarter. Curi RMB Capital LLC now owns 17,983 shares of the software company’s stock valued at $9,311,000 after acquiring an additional 385 shares in the last quarter. Aubrey Capital Management Ltd boosted its stake in Adobe by 16.4% in the 3rd quarter. Aubrey Capital Management Ltd now owns 737 shares of the software company’s stock worth $382,000 after purchasing an additional 104 shares in the last quarter. Zions Bancorporation N.A. grew its position in Adobe by 5.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 8,146 shares of the software company’s stock worth $4,218,000 after purchasing an additional 399 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Adobe by 35.4% in the third quarter. KBC Group NV now owns 390,673 shares of the software company’s stock worth $202,282,000 after buying an additional 102,149 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADBE shares. Sanford C. Bernstein cut their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 target price on shares of Adobe in a report on Friday, September 13th. Piper Sandler reiterated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a report on Friday, September 13th. Finally, UBS Group decreased their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Price Performance

Shares of ADBE traded down $5.62 during mid-day trading on Thursday, hitting $526.88. 180,600 shares of the company were exchanged, compared to its average volume of 3,152,227. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The stock has a market cap of $231.93 billion, a price-to-earnings ratio of 44.97, a price-to-earnings-growth ratio of 2.71 and a beta of 1.30. The company has a 50 day moving average of $511.75 and a 200-day moving average of $517.67.

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

Insiders Place Their Bets

In other news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 in the last 90 days. 0.15% of the stock is owned by insiders.

About Adobe

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.