Caisse Des Depots ET Consignations Invests $6.39 Million in Adobe Inc. (NASDAQ:ADBE)

Caisse Des Depots ET Consignations acquired a new stake in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,367 shares of the software company’s stock, valued at approximately $6,389,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Adobe by 19.0% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,957 shares of the software company’s stock valued at $870,000 after buying an additional 312 shares in the last quarter. LM Advisors LLC increased its stake in Adobe by 14.7% during the 4th quarter. LM Advisors LLC now owns 960 shares of the software company’s stock worth $427,000 after acquiring an additional 123 shares during the period. Delta Asset Management LLC TN raised its holdings in Adobe by 3.7% in the 4th quarter. Delta Asset Management LLC TN now owns 24,907 shares of the software company’s stock valued at $11,076,000 after acquiring an additional 885 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Adobe by 7.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 311,491 shares of the software company’s stock worth $138,514,000 after purchasing an additional 21,055 shares in the last quarter. Finally, NEOS Investment Management LLC grew its holdings in shares of Adobe by 24.1% during the 4th quarter. NEOS Investment Management LLC now owns 56,250 shares of the software company’s stock worth $25,013,000 after purchasing an additional 10,924 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Ricks bought 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Mizuho cut their price objective on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Evercore ISI reduced their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Robert W. Baird lowered their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus price target of $533.85.

Adobe Stock Performance

ADBE opened at $397.81 on Thursday. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The stock has a market cap of $173.21 billion, a P/E ratio of 32.08, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a fifty day moving average price of $433.31 and a 200 day moving average price of $472.23.

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