Natixis Advisors LLC Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Natixis Advisors LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 333,406 shares of the software company’s stock after buying an additional 34,002 shares during the period. Natixis Advisors LLC owned about 0.08% of Adobe worth $172,631,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ADBE. Alera Investment Advisors LLC increased its position in Adobe by 19.8% during the 1st quarter. Alera Investment Advisors LLC now owns 471 shares of the software company’s stock valued at $238,000 after purchasing an additional 78 shares during the period. Nicola Wealth Management LTD. increased its position in shares of Adobe by 31.0% during the first quarter. Nicola Wealth Management LTD. now owns 38,000 shares of the software company’s stock valued at $19,175,000 after buying an additional 9,000 shares during the period. Edgestream Partners L.P. increased its position in shares of Adobe by 113.0% during the first quarter. Edgestream Partners L.P. now owns 6,502 shares of the software company’s stock valued at $3,281,000 after buying an additional 3,449 shares during the period. Jacobi Capital Management LLC raised its stake in Adobe by 1.7% in the first quarter. Jacobi Capital Management LLC now owns 3,960 shares of the software company’s stock worth $1,998,000 after buying an additional 66 shares in the last quarter. Finally, Catalytic Wealth RIA LLC lifted its holdings in Adobe by 98.6% in the first quarter. Catalytic Wealth RIA LLC now owns 1,245 shares of the software company’s stock worth $628,000 after buying an additional 618 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 5.0 %

Shares of ADBE stock opened at $503.37 on Friday. The stock has a market capitalization of $221.58 billion, a P/E ratio of 42.51, a P/E/G ratio of 2.74 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $509.79 and its 200 day moving average is $517.96. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the business posted $3.26 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts expect that Adobe Inc. will post 14.82 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 6.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays increased their target price on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Morgan Stanley reissued an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein reduced their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 price target on shares of Adobe in a research report on Tuesday, October 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $606.40.

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.