iA Global Asset Management Inc. Acquires 1,727 Shares of Adobe Inc. (NASDAQ:ADBE)

iA Global Asset Management Inc. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,447 shares of the software company’s stock after acquiring an additional 1,727 shares during the period. iA Global Asset Management Inc.’s holdings in Adobe were worth $21,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADBE. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the third quarter valued at about $26,000. Groupama Asset Managment lifted its holdings in shares of Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Adobe in the fourth quarter valued at about $31,000. Finally, Caitlin John LLC lifted its holdings in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Adobe stock opened at $387.89 on Thursday. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75. The stock’s 50 day moving average is $435.13 and its 200-day moving average is $478.38. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $168.89 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last posted its 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. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the business earned $4.48 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research reports. BMO Capital Markets cut their price target on Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Citigroup cut their price target on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Morgan Stanley dropped their target price on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Bank of America dropped their target price on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Finally, KeyCorp dropped their target price on Adobe from $450.00 to $390.00 and set an “underweight” rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $538.80.

Insider Activity

In related news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by 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.