Natixis Increases Stake in Adobe Inc. (NASDAQ:ADBE)

by · The Markets Daily

Natixis grew its position in Adobe Inc. (NASDAQ:ADBE – Free Report) by 217.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,972 shares of the software company’s stock after acquiring an additional 54,749 shares during the period. Natixis’ holdings in Adobe were worth $35,562,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Sepio Capital LP increased its position in Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after purchasing an additional 22 shares during the period. Cadence Bank boosted its stake in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company’s stock valued at $2,171,000 after buying an additional 22 shares in the last quarter. Foster Group Inc. grew its holdings in Adobe by 4.6% during the fourth quarter. Foster Group Inc. now owns 526 shares of the software company’s stock worth $234,000 after acquiring an additional 23 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its holdings in Adobe by 0.4% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock valued at $2,404,000 after acquiring an additional 23 shares during the period. Finally, Veery Capital LLC boosted its position in shares of Adobe by 1.9% during the 4th quarter. Veery Capital LLC now owns 1,315 shares of the software company’s stock worth $585,000 after purchasing an additional 24 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ:ADBE opened at $348.80 on Friday. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. 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 cap of $148.66 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.15 and a beta of 1.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE – Get Free Report) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the company posted $4.48 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In other news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last three months. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup reduced their price objective on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. DA Davidson dropped their price objective on Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group decreased their target price on Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Finally, Redburn Atlantic began coverage on shares of Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $513.27.

Check Out Our Latest Analysis on Adobe

Adobe Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE – Free Report).