Axa S.A. Decreases Stake in Adobe Inc. (NASDAQ:ADBE)

Axa S.A. decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 34.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,968 shares of the software company's stock after selling 84,002 shares during the quarter. Axa S.A.'s holdings in Adobe were worth $70,690,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Decker Retirement Planning Inc. purchased a new stake in shares of Adobe in the fourth quarter valued at about $31,000. Summit Securities Group LLC purchased a new stake in Adobe in the 4th quarter valued at approximately $31,000. Caitlin John LLC grew its holdings in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after buying an additional 48 shares during the last quarter. Mascoma Wealth Management LLC increased its position in Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after buying an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Adobe in the fourth quarter worth $38,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. BMO Capital Markets dropped their price objective on Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. DA Davidson cut their price objective on shares of Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group cut their price target on Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Piper Sandler decreased their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Adobe Stock Up 1.7 %

Shares of NASDAQ:ADBE opened at $380.87 on Friday. The company has a market capitalization of $162.33 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a 50 day moving average of $385.41 and a two-hundred day moving average of $441.00. Adobe Inc. has a 52-week low of $332.01 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.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping 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 business had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the previous year, the firm posted $4.48 earnings per share. As a group, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daniel Durn purchased 1,300 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.

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