Lbp Am Sa Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Lbp Am Sa lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 58.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 183,169 shares of the software company’s stock after buying an additional 67,479 shares during the quarter. Adobe makes up about 1.1% of Lbp Am Sa’s portfolio, making the stock its 17th biggest position. Lbp Am Sa’s holdings in Adobe were worth $81,452,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe in the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new position in Adobe in the third quarter worth approximately $30,000. True Wealth Design LLC grew its stake in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Briaud Financial Planning Inc bought a new position in Adobe in the third quarter worth approximately $36,000. Finally, Decker Retirement Planning Inc. bought a new position in Adobe in the fourth quarter worth approximately $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADBE has been the topic of several research analyst reports. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. Piper Sandler dropped their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Bank of America dropped their price objective on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays dropped their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Finally, Robert W. Baird dropped their price objective on Adobe from $500.00 to $490.00 and set a “neutral” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $539.46.

Adobe Stock Down 13.9 %

Adobe stock opened at $377.84 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50-day simple moving average is $437.74 and its two-hundred day simple moving average is $483.80. The company has a market cap of $164.51 billion, a PE ratio of 30.47, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate 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 business earned $4.48 EPS. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.15% of the stock is currently owned by insiders.

About Adobe

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.