Mirabaud & Cie SA Has $3.18 Million Position in Adobe Inc. (NASDAQ:ADBE)

Mirabaud & Cie SA boosted its position in Adobe Inc. (NASDAQ:ADBE) by 48.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,141 shares of the software company’s stock after purchasing an additional 2,315 shares during the quarter. Adobe comprises about 1.0% of Mirabaud & Cie SA’s portfolio, making the stock its 20th biggest holding. Mirabaud & Cie SA’s holdings in Adobe were worth $3,175,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC grew its stake in shares of Adobe by 4.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after acquiring an additional 20 shares during the period. Connable Office Inc. lifted its holdings in Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after purchasing an additional 20 shares during the last quarter. 1ST Source Bank boosted its position in Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after purchasing an additional 20 shares during the period. Sfmg LLC increased its stake in shares of Adobe by 3.1% in the second quarter. Sfmg LLC now owns 708 shares of the software company’s stock worth $393,000 after purchasing an additional 21 shares in the last quarter. Finally, Next Capital Management LLC raised its position in shares of Adobe by 3.2% in the second quarter. Next Capital Management LLC now owns 678 shares of the software company’s stock valued at $377,000 after purchasing an additional 21 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ADBE. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Monday. Bank of America reduced their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. UBS Group dropped their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Barclays reduced their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Finally, DA Davidson lowered their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,763 shares of company stock valued at $893,665 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $436.36 on Wednesday. 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 $403.75 and a 52-week high of $638.25. The company has a fifty day moving average of $475.06 and a 200-day moving average of $511.05. The stock has a market capitalization of $189.95 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.52 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.