Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 54.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,189 shares of the software company’s stock after buying an additional 773 shares during the period. Impax Asset Management Group plc’s holdings in Adobe were worth $973,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after acquiring an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after acquiring an additional 2,100 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after purchasing an additional 78,384 shares during the period. Morse Asset Management Inc lifted its holdings in shares of Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after purchasing an additional 2,113 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Adobe by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after purchasing an additional 1,326 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Down 0.2 %

NASDAQ ADBE opened at $443.41 on Wednesday. The business has a fifty day moving average price of $439.88 and a 200 day moving average price of $492.62. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. 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 $193.02 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the company earned $3.52 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ADBE shares. UBS Group decreased their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Sanford C. Bernstein decreased their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average target price of $570.88.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by insiders.

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.