Natixis Advisors LLC Cuts Position in Adobe Inc. (NASDAQ:ADBE)

Natixis Advisors LLC trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,356 shares of the software company’s stock after selling 44,050 shares during the quarter. Natixis Advisors LLC owned 0.07% of Adobe worth $128,671,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADBE. Swedbank AB raised its holdings in shares of Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the period. United Bank grew its stake in shares of Adobe by 19.7% in the third quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after buying an additional 428 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Adobe in the third quarter valued at about $234,000. Curi RMB Capital LLC grew its stake in shares of Adobe by 2.2% in the third quarter. Curi RMB Capital LLC now owns 17,983 shares of the software company’s stock valued at $9,311,000 after buying an additional 385 shares in the last quarter. Finally, Lifeworks Advisors LLC grew its stake in shares of Adobe by 4.1% in the third quarter. Lifeworks Advisors LLC now owns 664 shares of the software company’s stock valued at $344,000 after buying an additional 26 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Barclays lowered their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $539.46.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $394.74 on Friday. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $171.87 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.15 and a beta of 1.37. The stock’s fifty day simple moving average is $437.03 and its 200 day simple moving average is $482.65.

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, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company posted $4.48 earnings per share. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company 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.