Intact Investment Management Inc. boosted its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 100.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,000 shares of the software company’s stock after acquiring an additional 2,000 shares during the quarter. Intact Investment Management Inc.’s holdings in Adobe were worth $1,319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in Adobe by 0.8% during the fourth quarter. State Street Corp now owns 19,911,953 shares of the software company’s stock worth $6,567,161,000 after purchasing an additional 157,055 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Adobe by 2.5% during the fourth quarter. Janus Henderson Group PLC now owns 8,039,818 shares of the software company’s stock valued at $2,651,587,000 after buying an additional 194,488 shares during the last quarter. Polen Capital Management LLC grew its stake in shares of Adobe by 3.0% during the fourth quarter. Polen Capital Management LLC now owns 4,953,887 shares of the software company’s stock valued at $1,633,841,000 after buying an additional 141,977 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Adobe by 6.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,745,712 shares of the software company’s stock valued at $1,235,373,000 after buying an additional 232,899 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Adobe by 8.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,132,983 shares of the software company’s stock valued at $1,033,289,000 after buying an additional 232,885 shares during the last quarter. Hedge funds and other institutional investors own 85.18% of the company’s stock.

In related news, EVP Scott Belsky sold 600 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $301.40, for a total value of $180,840.00. Following the completion of the sale, the executive vice president now owns 13,655 shares in the company, valued at approximately $4,115,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles M. Geschke sold 16,764 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $332.00, for a total transaction of $5,565,648.00. The disclosure for this sale can be found here. Insiders have sold a total of 56,445 shares of company stock worth $19,174,961 over the last quarter. 0.31% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on the company. Wedbush reaffirmed a “hold” rating and set a $315.00 price objective on shares of Adobe in a research note on Friday, March 13th. BMO Capital Markets decreased their price target on shares of Adobe from $358.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, March 13th. BidaskClub upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Nomura boosted their price target on shares of Adobe from $310.00 to $318.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus decreased their price target on shares of Adobe from $350.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $337.64.

ADBE stock traded up $8.74 during midday trading on Thursday, reaching $314.65. 360,515 shares of the stock were exchanged, compared to its average volume of 5,814,445. The stock has a market capitalization of $149.81 billion, a PE ratio of 47.67, a P/E/G ratio of 2.38 and a beta of 0.99. Adobe Inc has a 52 week low of $255.13 and a 52 week high of $386.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.23 and a quick ratio of 0.79. The company has a fifty day moving average price of $345.53 and a 200 day moving average price of $314.28.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 12th. The software company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.04. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.05 billion. Adobe had a net margin of 27.72% and a return on equity of 33.54%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.71 EPS. As a group, analysts anticipate that Adobe Inc will post 8.02 earnings per share for the current fiscal year.

Adobe Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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