Ostrum Asset Management Has $158,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Ostrum Asset Management reduced its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 91.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 356 shares of the software company's stock after selling 3,830 shares during the period. Ostrum Asset Management's holdings in Adobe were worth $158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sepio Capital LP boosted its stake in Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after acquiring an additional 22 shares during the last quarter. Cadence Bank boosted its position in shares of Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares in the last quarter. Foster Group Inc. grew its holdings in shares of Adobe by 4.6% in the 4th quarter. Foster Group Inc. now owns 526 shares of the software company's stock valued at $234,000 after buying an additional 23 shares during the period. Atlantic Edge Private Wealth Management LLC increased its position in shares of Adobe by 0.4% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock valued at $2,404,000 after buying an additional 23 shares in the last quarter. Finally, Veery Capital LLC lifted its holdings in Adobe by 1.9% during the fourth quarter. Veery Capital LLC now owns 1,315 shares of the software company's stock worth $585,000 after acquiring an additional 24 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Trading Up 1.9 %

NASDAQ:ADBE traded up $6.81 during trading hours on Friday, hitting $367.72. 3,481,023 shares of the company were exchanged, compared to its average volume of 3,429,602. The company has a fifty day simple moving average of $394.82 and a 200 day simple moving average of $446.30. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The stock has a market capitalization of $156.72 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

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

Wall Street Analyst Weigh In

ADBE has been the subject of several recent analyst reports. BNP Paribas upgraded Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. Evercore ISI reduced their price objective on Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. StockNews.com downgraded Adobe from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. UBS Group reduced their price target on Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.16% of the company's stock.

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.