Aristotle Atlantic Partners LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,610 shares of the software company's stock after selling 1,545 shares during the period. Aristotle Atlantic Partners LLC's holdings in Adobe were worth $17,614,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlTi Global Inc. grew its stake in Adobe by 8.4% during the fourth quarter. AlTi Global Inc. now owns 4,924 shares of the software company's stock valued at $2,192,000 after acquiring an additional 380 shares in the last quarter. Wahed Invest LLC lifted its position in Adobe by 4.8% during the fourth quarter. Wahed Invest LLC now owns 11,125 shares of the software company's stock valued at $4,947,000 after purchasing an additional 506 shares during the last quarter. South Plains Financial Inc. purchased a new position in Adobe in the 4th quarter worth approximately $1,314,000. Arrow Financial Corp increased its holdings in shares of Adobe by 1.8% in the 4th quarter. Arrow Financial Corp now owns 10,669 shares of the software company's stock worth $4,744,000 after buying an additional 184 shares during the last quarter. Finally, Cypress Advisory Group LLC bought a new stake in shares of Adobe during the 4th quarter worth $667,000. 81.79% of the stock is currently owned by institutional investors.
Adobe Price Performance
Shares of NASDAQ ADBE opened at $380.87 on Friday. The firm has a market cap of $162.33 billion, a P/E ratio of 30.72, a PEG ratio of 2.15 and a beta of 1.49. Adobe Inc. has a twelve month low of $332.01 and a twelve month 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 company has a 50 day moving average of $385.41 and a 200 day moving average of $441.00.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) 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 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 company posted $4.48 earnings per share. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.
Insider Activity at Adobe
In other news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction dated Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by insiders.
Analysts Set New Price Targets
Several brokerages have issued reports on ADBE. Evercore ISI dropped their price target on Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. StockNews.com lowered Adobe from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Summit Redstone set a $410.00 price target on shares of Adobe in a research note on Wednesday, March 19th. Wells Fargo & Company lowered their price objective on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, BMO Capital Markets reduced their target price on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $502.88.
Check Out Our Latest Stock Analysis on Adobe
About Adobe
(
Free Report)
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.
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