Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 21.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 494,915 shares of the software company’s stock after purchasing an additional 85,820 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Adobe were worth $220,079,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new stake in Adobe during the fourth quarter worth $141,000. Deane Retirement Strategies Inc. boosted its holdings in Adobe by 119.8% during the fourth quarter. Deane Retirement Strategies Inc. now owns 8,120 shares of the software company’s stock worth $3,611,000 after buying an additional 4,426 shares in the last quarter. Foster Group Inc. boosted its holdings in Adobe by 4.6% during the fourth quarter. Foster Group Inc. now owns 526 shares of the software company’s stock worth $234,000 after buying an additional 23 shares in the last quarter. Capital Investment Counsel LLC purchased a new stake in Adobe during the fourth quarter worth $4,940,000. Finally, Signature Wealth Management Partners LLC boosted its holdings in Adobe by 75.6% during the fourth quarter. Signature Wealth Management Partners LLC now owns 697 shares of the software company’s stock worth $310,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 0.9 %

Shares of NASDAQ:ADBE opened at $442.70 on Wednesday. The company has a market capitalization of $192.71 billion, a PE ratio of 35.70, a P/E/G ratio of 2.12 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The firm has a 50 day simple moving average of $465.79 and a 200-day simple moving average of $505.60.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.52 EPS. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Barclays decreased their price objective 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. Oppenheimer decreased 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. Piper Sandler decreased their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Finally, BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last ninety days. 0.15% of the stock is currently owned by company 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.