BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 146,267 Shares of Adobe Inc. (NASDAQ:ADBE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 828,894 shares of the software company's stock after selling 146,267 shares during the quarter. Adobe makes up approximately 1.1% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings, making the stock its 11th largest holding. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.19% of Adobe worth $429,185,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company's stock valued at $713,703,000 after acquiring an additional 1,376,333 shares in the last quarter. Swedbank AB purchased a new position in shares of Adobe during the first quarter valued at approximately $621,179,000. Longview Partners Guernsey LTD purchased a new position in shares of Adobe during the second quarter valued at approximately $663,745,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company's stock valued at $3,857,189,000 after purchasing an additional 1,146,718 shares during the last quarter. Finally, BlueSpruce Investments LP lifted its holdings in shares of Adobe by 81.1% during the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company's stock valued at $648,712,000 after purchasing an additional 575,675 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADBE shares. Barclays lifted their target price on shares of Adobe from $650.00 to $675.00 and gave the company an "overweight" rating in a report on Wednesday, September 4th. UBS Group lowered their target price on shares of Adobe from $560.00 to $550.00 and set a "neutral" rating for the company in a report on Friday, September 13th. Oppenheimer reiterated an "outperform" rating and set a $625.00 target price on shares of Adobe in a report on Friday, September 13th. Bank of America restated a "buy" rating and issued a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. Finally, Sanford C. Bernstein decreased their price objective on shares of Adobe from $660.00 to $644.00 and set an "outperform" rating for the company in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $606.40.

Adobe Trading Down 0.0 %

Shares of Adobe stock opened at $499.50 on Thursday. The company has a market capitalization of $219.88 billion, a P/E ratio of 42.19, a P/E/G ratio of 2.59 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $505.27 and a 200 day moving average of $518.81. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 EPS. On average, sell-side analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 481 shares of the firm's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company's stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,187 shares of company stock valued at $17,736,369. Company insiders own 0.15% of the company's stock.

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.

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