14,367 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, Holdings Channel.com reports. The fund acquired 14,367 shares of the software company’s stock, valued at approximately $6,389,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment boosted its stake in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the period. True Wealth Design LLC grew its stake in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Adobe during the fourth quarter worth $31,000. Finally, Caitlin John LLC grew its holdings in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other news, CFO Daniel Durn purchased 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Ricks bought 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 in the last 90 days. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research analyst reports. Piper Sandler lowered their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. BMO Capital Markets reduced their price target on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. UBS Group set a $495.00 target price on Adobe in a research note on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Eleven investment 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’s stock. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $533.85.

Adobe Trading Down 1.4 %

Shares of ADBE stock opened at $397.81 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $173.21 billion, a P/E ratio of 32.08, a PEG ratio of 2.15 and a beta of 1.37. The stock has a 50 day simple moving average of $433.31 and a two-hundred day simple moving average of $472.23. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the firm posted $4.48 earnings per share. Research analysts forecast that Adobe Inc. will post 16.65 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.