Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Cantillon Capital Management LLC

Cantillon Capital Management LLC lifted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 614,862 shares of the software company's stock after purchasing an additional 95,235 shares during the period. Adobe accounts for about 1.7% of Cantillon Capital Management LLC's investment portfolio, making the stock its 26th biggest position. Cantillon Capital Management LLC owned approximately 0.14% of Adobe worth $273,417,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Swedbank AB raised its stake in Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company's stock worth $619,355,000 after buying an additional 3,739 shares in the last quarter. EMC Capital Management raised its stake in Adobe by 289.3% in the third quarter. EMC Capital Management now owns 1,168 shares of the software company's stock worth $605,000 after buying an additional 868 shares in the last quarter. Dash Acquisitions Inc. raised its stake in Adobe by 7.2% in the third quarter. Dash Acquisitions Inc. now owns 25,085 shares of the software company's stock worth $12,134,000 after buying an additional 1,688 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Adobe by 5.7% in the third quarter. Farther Finance Advisors LLC now owns 8,629 shares of the software company's stock worth $4,467,000 after buying an additional 468 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in Adobe by 3.3% in the third quarter. Chicago Partners Investment Group LLC now owns 2,902 shares of the software company's stock worth $1,408,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. BNP Paribas raised shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Oppenheimer reduced their price target on Adobe from $625.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, Bank of America reduced their price target on Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and an average price target of $570.88.

Adobe Stock Performance

NASDAQ:ADBE traded up $1.30 during mid-day trading on Friday, hitting $438.49. The company's stock had a trading volume of 3,936,248 shares, compared to its average volume of 3,474,121. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. 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 stock has a market cap of $190.87 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. The business's fifty day moving average is $439.71 and its two-hundred day moving average is $490.93.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the company posted $3.52 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated 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 owns 2,685 shares of the company's stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 in the last 90 days. Insiders own 0.15% of the company's stock.

About Adobe

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.