Lingohr Asset Management GmbH Takes $339,000 Position in Adobe Inc. (NASDAQ:ADBE)

Lingohr Asset Management GmbH acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 760 shares of the software company’s stock, valued at approximately $339,000.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at $26,000. Groupama Asset Managment lifted its holdings in shares of Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the period. True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the period. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at $31,000. Finally, Caitlin John LLC lifted its holdings in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADBE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $530.00 target price on shares of Adobe in a report on Wednesday. Stifel Nicolaus reduced their target price on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, March 13th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and reduced their target price for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Wells Fargo & Company reduced their target price on Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Mizuho reduced their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $538.80.

Adobe Stock Performance

Shares of ADBE stock opened at $387.89 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75. The stock’s 50-day moving average is $435.13 and its two-hundred day moving average is $478.38. The firm has a market cap of $168.89 billion, a P/E ratio of 31.28, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $4.48 EPS. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David A. Ricks acquired 2,250 shares of the stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the acquisition, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Adobe 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.