Natixis Advisors LLC Acquires 92,893 Shares of Adobe Inc. (NASDAQ:ADBE)

Key Points

• Natixis Advisors LLC increased its stake in Adobe Inc. by 32.1%, now owning 382,249 shares valued at approximately $146.6 million.
• Analysts have revised price targets for Adobe, with Bank of America raising its target from $424 to $475 and the stock receiving a consensus rating of "Moderate Buy".
• Adobe's most recent quarterly earnings beat estimates, with EPS of $5.06 and revenue of $5.87 billion, which represents a 10.6% year-over-year increase.

Natixis Advisors LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 32.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 382,249 shares of the software company's stock after acquiring an additional 92,893 shares during the quarter. Natixis Advisors LLC owned approximately 0.09% of Adobe worth $146,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ADBE. Geode Capital Management LLC lifted its position in Adobe by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock worth $4,739,788,000 after acquiring an additional 151,286 shares during the period. Bank of New York Mellon Corp lifted its position in Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after acquiring an additional 821,293 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Adobe by 12.7% during 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 worth $2,375,345,000 after acquiring an additional 600,146 shares during the period. Northern Trust Corp lifted 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 acquiring an additional 672,919 shares during the period. Finally, Edgewood Management LLC lifted its position 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.

Adobe Price Performance

NASDAQ:ADBE traded down $9.89 during trading hours on Friday, reaching $347.80. 4,305,938 shares of the company's stock were exchanged, compared to its average volume of 3,775,404. The company has a market capitalization of $147.54 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.51. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The business's 50-day simple moving average is $386.92 and its two-hundred day simple moving average is $399.51.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.48 EPS. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADBE shares. Redburn Atlantic cut Adobe from a "hold" rating to a "strong sell" rating and decreased their price objective for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Stifel Nicolaus decreased their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a research note on Wednesday, July 2nd. DA Davidson restated a "buy" rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, June 20th. Finally, Morgan Stanley cut their price target on Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $473.88.

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.