Adobe Inc. (NASDAQ:ADBE) Shares Bought by Groupama Asset Managment

Groupama Asset Managment increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 28.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,482 shares of the software company’s stock after acquiring an additional 11,522 shares during the quarter. Groupama Asset Managment’s holdings in Adobe were worth $27,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Roffman Miller Associates Inc. PA grew its holdings in Adobe by 6.8% during the 3rd quarter. Roffman Miller Associates Inc. PA now owns 39,959 shares of the software company’s stock worth $20,690,000 after acquiring an additional 2,554 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Adobe by 3.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,898 shares of the software company’s stock worth $145,443,000 after purchasing an additional 8,332 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Adobe during the third quarter valued at approximately $6,294,000. Anson Funds Management LP bought a new position in Adobe during the 3rd quarter worth approximately $1,036,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the 3rd quarter worth approximately $26,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $547.05 on Wednesday. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The stock’s 50-day moving average price is $504.80 and its two-hundred day moving average price is $522.67. The company has a market cap of $240.81 billion, a PE ratio of 46.20, a PEG ratio of 2.52 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.26 EPS. On average, analysts predict that Adobe Inc. will post 14.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADBE shares. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Barclays upped their target price on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 target price on shares of Adobe in a research report on Friday, September 13th. Finally, BMO Capital Markets boosted their price target on shares of Adobe from $580.00 to $600.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $600.79.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,793 shares of company stock valued at $18,069,669 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

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.