Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Natixis

Natixis boosted its position in Adobe Inc. (NASDAQ:ADBE) by 217.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,972 shares of the software company’s stock after buying an additional 54,749 shares during the quarter. Natixis’ holdings in Adobe were worth $35,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norinchukin Bank The boosted its holdings in Adobe by 10.9% in the fourth quarter. Norinchukin Bank The now owns 28,449 shares of the software company’s stock valued at $12,651,000 after purchasing an additional 2,785 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its holdings in Adobe by 2.3% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 1,833 shares of the software company’s stock worth $815,000 after purchasing an additional 42 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Adobe by 10.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 162,131 shares of the software company’s stock valued at $72,096,000 after purchasing an additional 15,854 shares in the last quarter. Capital World Investors boosted its stake in shares of Adobe by 3.1% during the 4th quarter. Capital World Investors now owns 458,495 shares of the software company’s stock valued at $203,884,000 after buying an additional 13,755 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Adobe by 15.4% during the fourth quarter. First Trust Advisors LP now owns 437,408 shares of the software company’s stock worth $194,507,000 after buying an additional 58,218 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Bank of America cut their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Oppenheimer decreased their price target on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Robert W. Baird reduced their target price on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Finally, Summit Redstone set a $410.00 price target on Adobe in a research report on Wednesday, March 19th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $513.27.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock worth $2,191,826 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Up 1.3 %

ADBE stock opened at $348.80 on Friday. The firm’s 50-day moving average is $403.54 and its two-hundred day moving average is $450.43. The company has a market capitalization of $148.66 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the company earned $4.48 earnings per share. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.