Amiral Gestion Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

Amiral Gestion purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,050 shares of the software company's stock, valued at approximately $13,805,000. Adobe comprises about 8.7% of Amiral Gestion's portfolio, making the stock its 4th biggest holding.

A number of other institutional investors have also bought and sold shares of ADBE. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Adobe by 0.9% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 3,641 shares of the software company's stock worth $1,619,000 after purchasing an additional 33 shares in the last quarter. Advisory Alpha LLC boosted its position in shares of Adobe by 28.1% during the 4th quarter. Advisory Alpha LLC now owns 725 shares of the software company's stock worth $322,000 after purchasing an additional 159 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Adobe by 65.9% during the 4th quarter. Avior Wealth Management LLC now owns 1,309 shares of the software company's stock worth $582,000 after purchasing an additional 520 shares in the last quarter. Red Door Wealth Management LLC boosted its position in shares of Adobe by 4.1% during the 4th quarter. Red Door Wealth Management LLC now owns 11,351 shares of the software company's stock worth $5,048,000 after purchasing an additional 447 shares in the last quarter. Finally, Secure Asset Management LLC lifted its position in Adobe by 7.1% in the 4th quarter. Secure Asset Management LLC now owns 1,175 shares of the software company's stock valued at $522,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Trading Down 0.0%

Shares of Adobe stock traded down $0.18 during trading on Thursday, hitting $412.05. The stock had a trading volume of 853,474 shares, compared to its average volume of 3,435,486. The firm's fifty day simple moving average is $378.50 and its 200-day simple moving average is $430.10. The stock has a market cap of $175.62 billion, a PE ratio of 33.22, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

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

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler decreased their price target on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Bank of America reduced their price objective on shares of Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Morgan Stanley cut their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Redburn Atlantic started coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $502.88.

Adobe 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.