Natixis Advisors L.P. Acquires 18,736 Shares of Adobe Inc. (NASDAQ:ADBE)

Natixis Advisors L.P. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,613 shares of the software company’s stock after purchasing an additional 18,736 shares during the period. Adobe comprises approximately 0.6% of Natixis Advisors L.P.’s investment portfolio, making the stock its 27th largest holding. Natixis Advisors L.P.’s holdings in Adobe were worth $126,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Adobe by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 8,574,479 shares of the software company’s stock worth $4,076,052,000 after purchasing an additional 65,913 shares during the period. Geode Capital Management LLC raised its stake in shares of Adobe by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 8,050,718 shares of the software company’s stock worth $3,817,245,000 after purchasing an additional 103,574 shares during the period. Janus Henderson Group PLC raised its stake in shares of Adobe by 7.8% during the 1st quarter. Janus Henderson Group PLC now owns 7,268,925 shares of the software company’s stock worth $3,455,410,000 after purchasing an additional 527,558 shares during the period. Morgan Stanley raised its stake in shares of Adobe by 0.7% during the 1st quarter. Morgan Stanley now owns 6,759,931 shares of the software company’s stock worth $3,213,467,000 after purchasing an additional 45,108 shares during the period. Finally, Jennison Associates LLC raised its stake in Adobe by 3.1% in the 2nd quarter. Jennison Associates LLC now owns 6,639,024 shares of the software company’s stock valued at $3,888,078,000 after acquiring an additional 202,148 shares during the period. Institutional investors own 81.67% of the company’s stock.

Shares of NASDAQ ADBE traded down $17.71 during midday trading on Tuesday, hitting $585.94. 56,614 shares of the company’s stock were exchanged, compared to its average volume of 2,246,227. Adobe Inc. has a 12-month low of $420.78 and a 12-month high of $673.88. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.30. The company has a market cap of $279.14 billion, a price-to-earnings ratio of 51.73, a PEG ratio of 3.42 and a beta of 0.97. The business’s fifty day moving average price is $639.94 and its two-hundred day moving average price is $560.85.

Adobe (NASDAQ:ADBE) last released its earnings results on Monday, September 20th. The software company reported $3.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.10. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. Adobe had a return on equity of 35.94% and a net margin of 38.79%. Adobe’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. Equities analysts expect that Adobe Inc. will post 10.28 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on ADBE. Guggenheim restated a “hold” rating on shares of Adobe in a research note on Wednesday, September 22nd. Barclays boosted their price objective on Adobe from $660.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, September 16th. Robert W. Baird restated a “buy” rating on shares of Adobe in a research note on Sunday, June 20th. JPMorgan Chase & Co. boosted their price objective on Adobe from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Wednesday, September 22nd. Finally, Evercore ISI boosted their price objective on Adobe from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday, June 18th. Four investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $679.57.

In other Adobe news, EVP Gloria Chen sold 42 shares of the business’s stock in a transaction that occurred on Friday, September 24th. The stock was sold at an average price of $628.00, for a total value of $26,376.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dana Rao sold 488 shares of the business’s stock in a transaction that occurred on Tuesday, July 27th. The shares were sold at an average price of $621.71, for a total value of $303,394.48. Following the completion of the sale, the executive vice president now owns 14,579 shares of the company’s stock, valued at approximately $9,063,910.09. The disclosure for this sale can be found here. Insiders sold a total of 44,779 shares of company stock valued at $27,799,424 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

About Adobe

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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