Adobe Inc (ADBE) Stake Boosted by Securian Asset Management Inc
Securian Asset Management Inc grew its position in shares of Adobe Inc (NASDAQ:ADBE) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,711 shares of the software company’s stock after acquiring an additional 252 shares during the period. Securian Asset Management Inc’s holdings in Adobe were worth $11,473,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of ADBE. Greenleaf Trust raised its stake in Adobe by 9.5% in the third quarter. Greenleaf Trust now owns 4,100 shares of the software company’s stock worth $1,107,000 after buying an additional 355 shares in the last quarter. SG Americas Securities LLC raised its stake in Adobe by 76.9% in the third quarter. SG Americas Securities LLC now owns 87,663 shares of the software company’s stock worth $23,665,000 after buying an additional 38,095 shares in the last quarter. Mackenzie Financial Corp raised its stake in Adobe by 26.1% in the third quarter. Mackenzie Financial Corp now owns 30,772 shares of the software company’s stock worth $8,307,000 after buying an additional 6,372 shares in the last quarter. Eqis Capital Management Inc. raised its stake in Adobe by 24.6% in the fourth quarter. Eqis Capital Management Inc. now owns 1,126 shares of the software company’s stock worth $255,000 after buying an additional 222 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in Adobe by 26.1% in the fourth quarter. Fulton Bank N.A. now owns 1,251 shares of the software company’s stock worth $283,000 after buying an additional 259 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Ann Lewnes sold 2,955 shares of the firm’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $225.38, for a total transaction of $665,997.90. Following the sale, the executive vice president now directly owns 52,692 shares in the company, valued at approximately $11,875,722.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles M. Geschke sold 21,258 shares of the firm’s stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $232.71, for a total transaction of $4,946,949.18. The disclosure for this sale can be found here. Insiders sold 282,299 shares of company stock worth $68,899,256 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.
NASDAQ:ADBE opened at $257.00 on Monday. Adobe Inc has a 52 week low of $179.34 and a 52 week high of $277.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $125.35 billion, a PE ratio of 46.31, a PEG ratio of 2.52 and a beta of 1.15.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 13th. The software company reported $1.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.88 by ($0.05). Adobe had a net margin of 28.69% and a return on equity of 31.19%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities analysts predict that Adobe Inc will post 6.21 earnings per share for the current fiscal year.
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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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