Banque Transatlantique SA Takes Position in Adobe Inc. (NASDAQ:ADBE)

Banque Transatlantique SA bought a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,409 shares of the software company's stock, valued at approximately $5,940,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADBE. Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the 4th quarter valued at about $31,000. Summit Securities Group LLC bought a new position in shares of Adobe during the 4th quarter worth approximately $31,000. Caitlin John LLC grew its position in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after buying an additional 48 shares during the period. Avion Wealth lifted its position in shares of Adobe by 112.2% during the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after acquiring an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC boosted its stake 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 acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded up $1.99 during mid-day trading on Wednesday, reaching $384.97. The company had a trading volume of 2,152,569 shares, compared to its average volume of 3,434,227. The company's 50-day moving average price is $383.13 and its 200-day moving average price is $439.00. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The firm has a market cap of $164.07 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 2.15 and a beta of 1.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets cut their target price on Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. StockNews.com downgraded shares of Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Bank of America dropped their price objective on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Finally, Redburn Atlantic initiated coverage on shares of Adobe in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $502.88.

Insider Transactions at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

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.