Natixis Advisors L.P. Purchases 11,627 Shares of Adobe Inc. (NASDAQ:ADBE)

Natixis Advisors L.P. raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,506 shares of the software company’s stock after buying an additional 11,627 shares during the quarter. Adobe accounts for approximately 0.6% of Natixis Advisors L.P.’s holdings, making the stock its 23rd biggest holding. Natixis Advisors L.P. owned approximately 0.09% of Adobe worth $232,379,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rockland Trust Co. grew its holdings in shares of Adobe by 4.1% in the 3rd quarter. Rockland Trust Co. now owns 1,106 shares of the software company’s stock worth $564,000 after purchasing an additional 44 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Adobe by 22.6% during the fourth quarter. Federated Hermes Inc. now owns 223,667 shares of the software company’s stock worth $133,440,000 after purchasing an additional 41,164 shares during the last quarter. Mainsail Financial Group LLC grew its holdings in shares of Adobe by 9.6% during the fourth quarter. Mainsail Financial Group LLC now owns 2,100 shares of the software company’s stock worth $1,252,000 after purchasing an additional 184 shares during the last quarter. Team Hewins LLC acquired a new stake in shares of Adobe in the third quarter valued at $4,141,000. Finally, Naviter Wealth LLC raised its holdings in shares of Adobe by 39.7% in the fourth quarter. Naviter Wealth LLC now owns 3,502 shares of the software company’s stock valued at $2,089,000 after buying an additional 996 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,940,160. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $468.41, for a total transaction of $45,435.77. Following the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293 shares of company stock valued at $137,656. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, March 28th. DA Davidson reiterated a “buy” rating and issued a $685.00 price objective on shares of Adobe in a research report on Thursday, March 28th. Evercore ISI restated an “outperform” rating and set a $650.00 target price on shares of Adobe in a research report on Wednesday, March 27th. BNP Paribas cut shares of Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price objective on the stock. in a research note on Thursday, January 18th. Finally, Piper Sandler Companies dropped their target price on shares of Adobe from $705.00 to $700.00 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Stock Up 0.9 %

Shares of NASDAQ:ADBE traded up $4.38 during mid-day trading on Thursday, reaching $473.77. 1,135,509 shares of the stock were exchanged, compared to its average volume of 3,448,381. Adobe Inc. has a one year low of $331.89 and a one year high of $638.25. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $510.90 and its 200-day simple moving average is $562.78. The company has a market cap of $212.25 billion, a P/E ratio of 45.17, a P/E/G ratio of 2.51 and a beta of 1.28.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.38 by $0.10. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The business had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the company posted $2.97 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts predict that Adobe Inc. will post 14.55 EPS for the current year.

Adobe declared that its board has approved a stock buyback 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 repurchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is 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.