Groupama Asset Managment Boosts Stake in Adobe Inc. (NASDAQ:ADBE)

Groupama Asset Managment lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,153 shares of the software company’s stock after purchasing an additional 6,671 shares during the quarter. Groupama Asset Managment’s holdings in Adobe were worth $25,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. OV Management LLC grew its holdings in shares of Adobe by 6.0% during the fourth quarter. OV Management LLC now owns 5,057 shares of the software company’s stock valued at $2,249,000 after buying an additional 285 shares during the last quarter. Trexquant Investment LP boosted its position in shares of Adobe by 198.4% during the fourth quarter. Trexquant Investment LP now owns 110,351 shares of the software company’s stock valued at $49,071,000 after buying an additional 73,370 shares during the last quarter. May Hill Capital LLC bought a new stake in Adobe in the 4th quarter worth about $780,000. Headlands Technologies LLC purchased a new position in Adobe in the 4th quarter worth about $1,527,000. Finally, Boston Family Office LLC grew its stake in shares of Adobe by 0.8% in the fourth quarter. Boston Family Office LLC now owns 41,650 shares of the software company’s stock worth $18,521,000 after acquiring an additional 326 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADBE. Oppenheimer decreased their target price on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Robert W. Baird reduced their price objective on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and cut their price objective for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Evercore ISI decreased their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, BMO Capital Markets decreased their price objective on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $531.54.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were bought 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 of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by insiders.

Adobe Stock Performance

Adobe stock opened at $383.53 on Tuesday. 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 market capitalization of $163.46 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The company’s 50-day moving average is $430.88 and its 200 day moving average is $467.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the business posted $4.48 earnings per share. Research analysts forecast 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.