Compagnie Lombard Odier SCmA Has $57.26 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Compagnie Lombard Odier SCmA lowered its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 23.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,304 shares of the software company's stock after selling 45,902 shares during the quarter. Compagnie Lombard Odier SCmA's holdings in Adobe were worth $57,263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ADBE. Geode Capital Management LLC lifted its holdings in shares of Adobe by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock valued at $4,739,788,000 after purchasing an additional 151,286 shares in the last quarter. Norges Bank bought a new stake in Adobe during the fourth quarter worth $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock valued at $2,375,345,000 after acquiring an additional 600,146 shares during the last quarter. Northern Trust Corp raised its position in Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock worth $2,363,125,000 after purchasing an additional 672,919 shares during the last quarter. Finally, Edgewood Management LLC grew its holdings in Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock worth $1,805,009,000 after acquiring an additional 696,172 shares during the period. Institutional investors own 81.79% of the company's stock.

Insider Activity at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the company's stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Adobe Stock Performance

Shares of ADBE traded up $0.84 during mid-day trading on Thursday, reaching $413.68. The company had a trading volume of 6,169,376 shares, compared to its average volume of 3,418,958. The stock has a 50 day moving average of $384.27 and a two-hundred day moving average of $423.37. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The stock has a market capitalization of $176.31 billion, a P/E ratio of 33.36, a PEG ratio of 2.15 and a beta of 1.55. 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 announced its quarterly earnings results 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 company had revenue of $5.71 billion during the quarter, compared to the consensus estimate 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 business earned $4.48 EPS. On average, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on ADBE shares. Jefferies Financial Group dropped their target price on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Royal Bank of Canada restated an "outperform" rating and set a $480.00 target price on shares of Adobe in a report on Thursday, June 5th. Robert W. Baird cut their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Stifel Nicolaus lowered their price objective on Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group boosted their price objective on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a report on Monday. Nine investment 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $503.33.

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.