Groupama Asset Managment Acquires 6,671 Shares of Adobe Inc. (NASDAQ:ADBE)

Groupama Asset Managment increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,153 shares of the software company’s stock after buying an additional 6,671 shares during the period. Groupama Asset Managment’s holdings in Adobe were worth $25,924,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. United Bank increased its position in Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after purchasing an additional 428 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Adobe during the third quarter worth $719,000. Tradition Wealth Management LLC raised its stake in Adobe by 2.8% during the third quarter. Tradition Wealth Management LLC now owns 2,646 shares of the software company’s stock worth $1,370,000 after buying an additional 73 shares during the last quarter. True Wealth Design LLC grew its holdings in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in Adobe in the third quarter valued at approximately $81,000. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ADBE. Mizuho lowered their price objective on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Barclays lowered their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Piper Sandler decreased their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Jefferies Financial Group decreased their price target on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a report on Monday. Finally, Oppenheimer dropped their price target on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $531.54.

Insider Activity at Adobe

In other news, Director David A. Ricks bought 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % 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 valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Adobe Stock Down 0.6 %

Shares of NASDAQ:ADBE opened at $383.53 on Tuesday. The firm has a market capitalization of $163.46 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The firm has a fifty day moving average of $430.88 and a 200 day moving average of $467.49.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the firm posted $4.48 EPS. As a group, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.