Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,500 shares of the software company’s stock after buying an additional 150 shares during the period. Intact Investment Management Inc.’s holdings in Adobe were worth $1,112,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its holdings in shares of Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after acquiring an additional 1,041,513 shares in the last quarter. FMR LLC raised its position in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Adobe during the fourth quarter worth about $243,827,000. Assenagon Asset Management S.A. boosted its position in shares of Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the period. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Adobe in the fourth quarter valued at about $110,744,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction 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. This represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Evercore ISI reduced their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research report on Thursday. UBS Group decreased their target price on shares of Adobe from $475.00 to $460.00 and set a “neutral” rating for the company in a research note on Thursday. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada lowered their price objective on Adobe from $550.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $539.46.

Adobe Stock Up 4.5 %

ADBE stock opened at $394.74 on Friday. The stock has a market cap of $171.87 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The firm’s 50-day simple moving average is $437.03 and its 200 day simple moving average is $482.65. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced 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 company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the business earned $4.48 earnings per share. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 EPS 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.