Natixis Advisors LLC Acquires 34,002 Shares of Adobe Inc. (NASDAQ:ADBE)

Natixis Advisors LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 333,406 shares of the software company's stock after acquiring an additional 34,002 shares during the period. Natixis Advisors LLC owned about 0.08% of Adobe worth $172,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Piscataqua Savings Bank increased its position in shares of Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Summit Securities Group LLC bought a new stake in Adobe in the second quarter valued at about $33,000. Lynx Investment Advisory bought a new position in Adobe during the 2nd quarter worth approximately $39,000. Hobbs Group Advisors LLC bought a new position in Adobe during the 2nd quarter worth approximately $39,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Adobe in the 3rd quarter worth approximately $38,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ADBE. Oppenheimer reaffirmed an "outperform" rating and issued a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. UBS Group dropped their price objective on shares of Adobe from $560.00 to $550.00 and set a "neutral" rating on the stock in a research note on Friday, September 13th. Bank of America reaffirmed a "buy" rating and set a $640.00 target price on shares of Adobe in a report on Friday, September 13th. JMP Securities reissued a "market perform" rating on shares of Adobe in a report on Friday, September 13th. Finally, Citigroup raised their target price on Adobe from $550.00 to $621.00 and gave the company a "neutral" rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $606.40.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn sold 6,500 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 23.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the company's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares of the company's stock, valued at approximately $186,569,166. This trade represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock valued at $17,736,369 in the last quarter. Company insiders own 0.15% of the company's stock.

Adobe Price Performance

Shares of ADBE traded down $26.50 during trading hours on Friday, hitting $503.37. 4,612,417 shares of the company were exchanged, compared to its average volume of 3,172,124. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a market capitalization of $221.58 billion, a PE ratio of 42.51, a PEG ratio of 2.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a fifty day simple moving average of $509.79 and a 200-day simple moving average of $517.96.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the business earned $3.26 EPS. The company's revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that Adobe Inc. will post 14.82 earnings per share for the current year.

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.