Natixis Advisors LLC Has $128.67 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Natixis Advisors LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 13.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 289,356 shares of the software company’s stock after selling 44,050 shares during the quarter. Natixis Advisors LLC’s holdings in Adobe were worth $128,671,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC increased its stake in Adobe by 61.0% during the fourth quarter. Frank Rimerman Advisors LLC now owns 9,010 shares of the software company’s stock valued at $4,007,000 after acquiring an additional 3,413 shares during the period. Harbour Investment Management LLC increased its stake in Adobe by 17.6% during the fourth quarter. Harbour Investment Management LLC now owns 1,198 shares of the software company’s stock valued at $533,000 after acquiring an additional 179 shares during the period. Van Strum & Towne Inc. grew its stake in shares of Adobe by 54.5% in the 4th quarter. Van Strum & Towne Inc. now owns 2,615 shares of the software company’s stock valued at $1,163,000 after purchasing an additional 922 shares during the period. Greykasell Wealth Strategies Inc. bought a new stake in shares of Adobe in the 4th quarter valued at approximately $1,123,000. Finally, Poinciana Advisors Group LLC bought a new stake in shares of Adobe in the 4th quarter valued at approximately $362,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,075 shares of company stock worth $2,191,826 over the last three months. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday. Evercore ISI reduced their target price on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Piper Sandler reduced their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $539.46.

Adobe Trading Up 4.5 %

Shares of NASDAQ:ADBE opened at $394.74 on Friday. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The company has a market capitalization of $171.87 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a 50-day simple moving average of $437.03 and a 200 day simple moving average of $482.65. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the business posted $4.48 EPS. Sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

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.