Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lessened by Ostrum Asset Management

Ostrum Asset Management trimmed its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 91.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356 shares of the software company's stock after selling 3,830 shares during the period. Ostrum Asset Management's holdings in Adobe were worth $158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the fourth quarter worth about $31,000. Summit Securities Group LLC purchased a new stake in shares of Adobe during the fourth quarter worth approximately $31,000. Caitlin John LLC raised its stake in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after purchasing an additional 48 shares during the last quarter. Mascoma Wealth Management LLC grew its position in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after buying an additional 50 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in Adobe in the 4th quarter valued at $38,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 1.9 %

Shares of ADBE stock traded up $6.81 during mid-day trading on Friday, reaching $367.72. The company's stock had a trading volume of 3,497,670 shares, compared to its average volume of 3,434,326. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $156.72 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company's 50 day simple moving average is $392.89 and its 200-day simple moving average is $445.42. 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 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the firm posted $4.48 earnings per share. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Evercore ISI dropped their target price on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. UBS Group reduced their price target on Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Piper Sandler dropped their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company reduced their target price on Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Ricks purchased 2,250 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company's stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by company insiders.

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.