Van Lanschot Kempen Investment Management N.V. Decreases Stake in Adobe Inc. (NASDAQ:ADBE)

Van Lanschot Kempen Investment Management N.V. decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,187 shares of the software company's stock after selling 2,490 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in Adobe were worth $23,651,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Adobe by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock valued at $4,739,788,000 after purchasing an additional 151,286 shares in the last quarter. Norges Bank bought a new position in shares of Adobe during the 4th quarter valued at about $2,553,035,000. Edgewood Management LLC raised its holdings in shares of Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock valued at $1,805,009,000 after buying an additional 696,172 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Adobe by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company's stock worth $1,249,066,000 after buying an additional 92,458 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Adobe by 7.3% in the third quarter. Franklin Resources Inc. now owns 2,424,024 shares of the software company's stock worth $1,235,157,000 after buying an additional 163,983 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 334 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company's stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares in the company, 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. Corporate insiders own 0.16% of the company's stock.

Adobe Stock Up 1.9 %

Shares of NASDAQ ADBE traded up $6.81 during mid-day trading on Friday, hitting $367.72. 3,497,352 shares of the stock traded hands, compared to its average volume of 3,429,606. The company has a market cap of $156.72 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.15 and a beta of 1.49. The stock has a fifty day moving average price of $394.82 and a 200-day moving average price of $446.30. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the previous year, the business posted $4.48 EPS. Research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ADBE. Evercore ISI decreased their price target on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets lowered their price target on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group reduced their price objective on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Summit Redstone set a $410.00 target price on Adobe in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company reduced their price target on Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research report on Tuesday. Eleven research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $502.88.

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.