BNP Paribas Has $10.90 Million Stake in Adobe Inc. (NASDAQ:ADBE)

BNP Paribas grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,511 shares of the software company's stock after purchasing an additional 5,854 shares during the period. BNP Paribas' holdings in Adobe were worth $10,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the fourth quarter valued at $31,000. Summit Securities Group LLC bought a new stake in shares of Adobe in the 4th quarter valued at about $31,000. Caitlin John LLC increased 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 worth $34,000 after acquiring an additional 48 shares in the last quarter. Mascoma Wealth Management LLC boosted its position in shares of 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 during the period. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Adobe during the 4th quarter worth about $38,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Up 0.5 %

Shares of ADBE traded up $1.99 during trading hours on Wednesday, reaching $384.97. The company's stock had a trading volume of 2,152,569 shares, compared to its average volume of 3,434,227. 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 Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a 50 day moving average of $383.13 and a two-hundred day moving average of $439.00. The firm has a market cap of $164.07 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the previous year, the company earned $4.48 earnings per share. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. 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. StockNews.com lowered Adobe from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Oppenheimer reduced their price objective on Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Summit Redstone set a $410.00 price objective on shares of Adobe in a research report on Wednesday, March 19th. Finally, Bank of America decreased their price target on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

About Adobe

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.