Adobe Inc. (NASDAQ:ADBE) Stake Increased by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. increased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,783 shares of the software company's stock after acquiring an additional 1,859 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Adobe were worth $20,752,000 as of its most recent filing with the Securities and Exchange Commission.

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Several other hedge funds have also recently bought and sold shares of the business. Barlow Wealth Partners Inc. acquired a new stake in Adobe during the fourth quarter valued at approximately $16,700,000. Federated Hermes Inc. raised its position in shares of Adobe by 22.6% during the 4th quarter. Federated Hermes Inc. now owns 223,667 shares of the software company's stock valued at $133,440,000 after acquiring an additional 41,164 shares during the last quarter. Mainsail Financial Group LLC increased its position in shares of Adobe by 9.6% in the 4th quarter. Mainsail Financial Group LLC now owns 2,100 shares of the software company's stock valued at $1,252,000 after buying an additional 184 shares in the last quarter. Team Hewins LLC bought a new stake in shares of Adobe in the 3rd quarter valued at $4,141,000. Finally, Vise Technologies Inc. increased its holdings in Adobe by 267.3% during the 4th quarter. Vise Technologies Inc. now owns 7,769 shares of the software company's stock worth $4,635,000 after purchasing an additional 5,654 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 2,713 shares of Adobe stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $474.30, for a total value of $1,286,775.90. Following the completion of the sale, the executive vice president now directly owns 21,114 shares of the company's stock, valued at $10,014,370.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Mark S. Garfield sold 96 shares of the business's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the sale, the chief accounting officer now directly owns 4,128 shares of the company's stock, valued at $1,940,160. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 2,713 shares of the business's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total transaction of $1,286,775.90. Following the sale, the executive vice president now directly owns 21,114 shares of the company's stock, valued at $10,014,370.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,006 shares of company stock valued at $1,424,432. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

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A number of equities analysts have recently commented on ADBE shares. Evercore ISI restated an "outperform" rating and set a $650.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. JMP Securities restated a "market perform" rating on shares of Adobe in a research note on Thursday, March 28th. DA Davidson reiterated a "buy" rating and issued a $685.00 target price on shares of Adobe in a research note on Thursday, March 28th. Barclays cut their target price on shares of Adobe from $700.00 to $630.00 and set an "overweight" rating for the company in a research note on Friday, March 15th. Finally, HSBC cut their target price on shares of Adobe from $557.00 to $511.00 and set a "hold" rating for the company in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $620.72.

Check Out Our Latest Research Report on Adobe

Adobe Trading Down 1.6 %

• Adobe Stock Analysis: Performance, Trends, and Investment Insight

ADBE stock traded down $7.88 during midday trading on Monday, hitting $475.43. The stock had a trading volume of 3,085,600 shares, compared to its average volume of 3,319,088. The firm has a market cap of $212.99 billion, a P/E ratio of 45.45, a price-to-earnings-growth ratio of 2.57 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Adobe Inc. has a 1-year low of $374.09 and a 1-year high of $638.25. The business has a fifty day moving average price of $486.03 and a two-hundred day moving average price of $554.55.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.38 by $0.10. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Adobe Inc. will post 14.55 earnings per share for the current fiscal year.

Adobe declared that its board has authorized a stock repurchase program on Thursday, March 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.

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