Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $41.02 Million Stock Holdings in Adobe Inc (NASDAQ:ADBE)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,893 shares of the software company’s stock after selling 5,913 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Adobe were worth $41,019,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ADBE. Stephenson National Bank & Trust acquired a new stake in Adobe during the 4th quarter valued at $25,000. Lion Street Advisors LLC bought a new position in Adobe during the 1st quarter worth $25,000. Sowa Financial Group Inc. bought a new position in Adobe during the 4th quarter worth $26,000. Solstein Capital LLC bought a new position in Adobe during the 4th quarter worth $27,000. Finally, Laurel Wealth Advisors LLC increased its position in Adobe by 50.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 96 shares of the software company’s stock worth $31,000 after buying an additional 32 shares during the period. 85.98% of the stock is owned by institutional investors and hedge funds.

Shares of ADBE stock traded up $3.68 during mid-day trading on Friday, reaching $385.85. 912,225 shares of the stock traded hands, compared to its average volume of 2,756,114. The stock’s fifty day simple moving average is $340.78 and its two-hundred day simple moving average is $331.58. Adobe Inc has a 1-year low of $255.13 and a 1-year high of $386.74. The company has a market cap of $184.13 billion, a price-to-earnings ratio of 57.90, a price-to-earnings-growth ratio of 3.00 and a beta of 0.90. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.39.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 12th. The software company reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.04. Adobe had a return on equity of 33.54% and a net margin of 27.72%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the firm posted $1.71 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, equities research analysts anticipate that Adobe Inc will post 8 EPS for the current fiscal year.

Several research analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on Adobe from $345.00 to $325.00 in a research report on Friday, March 13th. Citigroup decreased their price target on Adobe from $329.00 to $293.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Bank of America restated a “buy” rating and issued a $360.00 price target on shares of Adobe in a research report on Friday, March 13th. Canaccord Genuity restated a “buy” rating and issued a $350.00 price target on shares of Adobe in a research report on Wednesday, April 1st. Finally, Zacks Investment Research upgraded Adobe from a “sell” rating to a “hold” rating and set a $327.00 price target on the stock in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $342.54.

In related news, CMO Ann Lewnes sold 5,000 shares of Adobe stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $348.26, for a total value of $1,741,300.00. Following the transaction, the chief marketing officer now directly owns 54,874 shares of the company’s stock, valued at $19,110,419.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott Belsky sold 600 shares of Adobe stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $301.40, for a total value of $180,840.00. Following the completion of the transaction, the executive vice president now directly owns 13,655 shares in the company, valued at $4,115,617. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,298 shares of company stock worth $4,025,976. 0.31% of the stock is owned by insiders.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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