NS Partners Ltd Has $30.90 Million Stake in Adobe Inc. (NASDAQ:ADBE)

NS Partners Ltd lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,495 shares of the software company’s stock after selling 335 shares during the period. Adobe accounts for 1.3% of NS Partners Ltd’s portfolio, making the stock its 25th largest position. NS Partners Ltd’s holdings in Adobe were worth $30,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Nordea Investment Management AB raised its position in shares of Adobe by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after acquiring an additional 33,414 shares during the last quarter. Arizona State Retirement System increased its position in Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after purchasing an additional 570 shares during the period. Public Sector Pension Investment Board raised its holdings in Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after purchasing an additional 2,100 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after purchasing an additional 78,384 shares during the period. Finally, Morse Asset Management Inc boosted its stake in shares of Adobe by 33.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after purchasing an additional 2,113 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADBE. Oppenheimer cut their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. DA Davidson cut their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, UBS Group reduced their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $567.81.

Adobe Trading Up 1.0 %

NASDAQ:ADBE opened at $449.40 on Friday. The firm has a 50-day moving average of $439.56 and a 200-day moving average of $487.67. The company has a market cap of $195.62 billion, a PE ratio of 36.24, a PEG 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. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.52 EPS. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated Monday, January 27th. The shares were 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 represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David A. Ricks purchased 2,250 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 5,075 shares of company stock worth $2,191,826 in the last quarter. 0.15% of the stock is 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.