Migdal Insurance & Financial Holdings Ltd. Has $538,000 Position in Adobe Inc. (NASDAQ:ADBE)

Migdal Insurance & Financial Holdings Ltd. lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 8.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,209 shares of the software company’s stock after selling 118 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Adobe were worth $538,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ADBE. Piscataqua Savings Bank increased its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Adobe during the 3rd quarter valued at $26,000. Groupama Asset Managment increased its stake in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Adobe during the 3rd quarter valued at $30,000. Finally, True Wealth Design LLC increased its stake in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 over the last three months. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on ADBE shares. Oppenheimer decreased their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Royal Bank of Canada reduced their target price on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company reduced their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Adobe Price Performance

NASDAQ ADBE opened at $433.07 on Friday. The company has a market cap of $188.52 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $628.07. 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 firm’s 50-day simple moving average is $455.58 and its two-hundred day simple moving average is $500.48.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.52 earnings per share. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.