Triodos Investment Management BV Has $37.64 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Triodos Investment Management BV trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 10.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,087 shares of the software company's stock after selling 7,050 shares during the period. Adobe accounts for approximately 3.7% of Triodos Investment Management BV's holdings, making the stock its 6th largest holding. Triodos Investment Management BV's holdings in Adobe were worth $37,638,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Morgan Stanley grew its holdings in Adobe by 2.7% during the 3rd quarter. Morgan Stanley now owns 10,371,262 shares of the software company's stock worth $5,288,309,000 after acquiring an additional 277,484 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Adobe by 3.9% in the third quarter. Northern Trust Corp now owns 5,358,515 shares of the software company's stock valued at $2,732,307,000 after purchasing an additional 202,136 shares in the last quarter. Jennison Associates LLC raised its position in Adobe by 12.3% in the 3rd quarter. Jennison Associates LLC now owns 4,561,859 shares of the software company's stock worth $2,326,092,000 after purchasing an additional 498,957 shares during the last quarter. Fisher Asset Management LLC raised its position in Adobe by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 4,560,086 shares of the software company's stock worth $2,720,548,000 after purchasing an additional 16,379 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Adobe by 25.1% during the 3rd quarter. Invesco Ltd. now owns 4,438,805 shares of the software company's stock worth $2,263,347,000 after buying an additional 889,607 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Insider Transactions at Adobe

In related news, insider Anil Chakravarthy sold 100 shares of Adobe stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now owns 33,609 shares of the company's stock, valued at $15,829,839. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Anil Chakravarthy sold 100 shares of the firm's stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the transaction, the insider now directly owns 33,609 shares of the company's stock, valued at $15,829,839. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 2,713 shares of the company's stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total transaction of $1,286,775.90. Following the sale, the executive vice president now directly owns 21,114 shares in the company, valued at $10,014,370.20. The disclosure for this sale can be found here. Insiders sold a total of 3,006 shares of company stock worth $1,424,432 in the last three months. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADBE shares. TD Cowen dropped their target price on Adobe from $650.00 to $640.00 and set an "outperform" rating for the company in a research report on Friday, March 15th. Royal Bank of Canada restated an "outperform" rating and set a $630.00 target price on shares of Adobe in a research report on Wednesday, March 27th. Piper Sandler reiterated an "overweight" rating and set a $700.00 price target on shares of Adobe in a research report on Wednesday, March 27th. Oppenheimer restated an "outperform" rating and issued a $660.00 price objective on shares of Adobe in a report on Wednesday, March 27th. Finally, Barclays dropped their target price on shares of Adobe from $700.00 to $630.00 and set an "overweight" rating for the company in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $620.72.

Adobe Stock Down 1.5 %

Shares of NASDAQ:ADBE traded down $7.16 during mid-day trading on Tuesday, reaching $475.95. 4,286,401 shares of the stock were exchanged, compared to its average volume of 3,397,121. The company has a market cap of $213.23 billion, a P/E ratio of 45.50, a P/E/G ratio of 2.61 and a beta of 1.28. The stock's 50 day simple moving average is $499.50 and its 200-day simple moving average is $559.73. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Adobe Inc. has a one year low of $333.01 and a one year high of $638.25.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.38 by $0.10. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $2.97 earnings per share. The firm's revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Adobe Inc. will post 14.55 EPS for the current year.

Adobe announced that its board has initiated a stock repurchase plan on Thursday, March 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

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.

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