Ossiam Has $81.96 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Ossiam reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 184,309 shares of the software company's stock after selling 3,172 shares during the period. Adobe comprises about 2.7% of Ossiam's investment portfolio, making the stock its 13th biggest position. Ossiam's holdings in Adobe were worth $81,959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the 4th quarter valued at $31,000. Summit Securities Group LLC acquired a new position in Adobe in the fourth quarter valued at about $31,000. Caitlin John LLC raised its stake in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after acquiring an additional 48 shares during the last quarter. Avion Wealth boosted its holdings in shares of Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after acquiring an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Trading Up 0.9 %

Shares of ADBE traded up $3.14 during trading hours on Wednesday, reaching $353.05. The stock had a trading volume of 1,768,768 shares, compared to its average volume of 3,416,194. The company has a market cap of $150.47 billion, a P/E ratio of 28.47, a P/E/G ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $398.97 and a 200 day moving average of $447.84.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the firm posted $4.48 earnings per share. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent analyst reports. DA Davidson reduced their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Bank of America reduced their target price on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Citigroup lowered their price target on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Morgan Stanley reduced their price objective on Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Royal Bank of Canada lowered their target price on Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 18,334 shares of the company's stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by corporate insiders.

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.