Foundations Investment Advisors LLC Boosts Holdings in Adobe Inc. (NASDAQ:ADBE)

Foundations Investment Advisors LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,009 shares of the software company's stock after buying an additional 8,508 shares during the quarter. Foundations Investment Advisors LLC's holdings in Adobe were worth $16,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in shares of Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company's stock worth $713,703,000 after buying an additional 1,376,333 shares in the last quarter. FMR LLC lifted its stake in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company's stock worth $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company's stock worth $519,646,000 after buying an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd bought a new position in shares of Adobe in the fourth quarter worth approximately $110,744,000. Finally, Erste Asset Management GmbH bought a new position in shares of Adobe in the third quarter worth approximately $126,703,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADBE. TD Cowen downgraded shares of Adobe from a "buy" rating to a "hold" rating and dropped their target price for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a report on Thursday, December 12th. Oppenheimer reduced their target price on shares of Adobe from $625.00 to $600.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have issued 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 currently has an average rating of "Moderate Buy" and a consensus price target of $573.00.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares of the company's stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 676 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares in the company, 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. Insiders own 0.15% of the company's stock.

Adobe Stock Up 0.7 %

Shares of ADBE stock traded up $3.21 during trading hours on Monday, reaching $438.59. 5,082,312 shares of the stock were exchanged, compared to its average volume of 3,969,906. The business's fifty day moving average is $468.14 and its two-hundred day moving average is $507.26. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The firm has a market capitalization of $190.92 billion, a P/E ratio of 35.37, a P/E/G ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts' consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm 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 firm earned $3.52 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.