Adobe Inc. (NASDAQ:ADBE) Holdings Boosted by Rathbones Group PLC

Rathbones Group PLC grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 587,185 shares of the software company's stock after purchasing an additional 46,375 shares during the quarter. Adobe makes up approximately 1.3% of Rathbones Group PLC's holdings, making the stock its 17th biggest holding. Rathbones Group PLC owned about 0.13% of Adobe worth $261,109,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new stake in Adobe during the third quarter valued at approximately $26,000. Groupama Asset Managment increased its holdings in shares of Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock valued at $27,000 after acquiring an additional 11,522 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the 4th quarter valued at approximately $31,000. Summit Securities Group LLC bought a new position in Adobe during the fourth quarter worth $31,000. Finally, Caitlin John LLC lifted its stake in 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. Institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of ADBE traded down $13.22 during midday trading on Thursday, reaching $351.42. The stock had a trading volume of 3,516,446 shares, compared to its average volume of 3,392,880. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $149.78 billion, a P/E ratio of 28.27, a P/E/G ratio of 2.15 and a beta of 1.49. The firm's 50 day moving average price is $416.53 and its 200-day moving average price is $458.06. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping 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 firm had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same period in the previous year, the business earned $4.48 earnings per share. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company's stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel Durn purchased 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 over the last ninety days. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ADBE shares. TD Cowen lowered shares of Adobe from a "buy" rating to a "hold" rating and lowered their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Mizuho dropped their price objective on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Redburn Atlantic initiated coverage on Adobe in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Finally, DA Davidson cut their price target on Adobe from $685.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $531.54.

Adobe 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.