Adobe Inc. (NASDAQ:ADBE) Stock Holdings Decreased by Aristotle Capital Management LLC

Aristotle Capital Management LLC lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,626,964 shares of the software company’s stock after selling 52,184 shares during the quarter. Adobe accounts for 2.3% of Aristotle Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Aristotle Capital Management LLC owned about 0.60% of Adobe worth $1,168,158,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ADBE. Sepio Capital LP increased its stake in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after buying an additional 22 shares during the period. Cadence Bank grew its stake in Adobe by 0.5% in the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after acquiring an additional 22 shares in the last quarter. Eagle Strategies LLC increased its position in shares of Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after acquiring an additional 22 shares during the period. Foster Group Inc. raised its stake in shares of Adobe by 4.6% during the fourth quarter. Foster Group Inc. now owns 526 shares of the software company’s stock valued at $234,000 after acquiring an additional 23 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Adobe by 0.4% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock valued at $2,404,000 after purchasing an additional 23 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $380.87 on Friday. The business has a fifty day moving average of $385.41 and a 200 day moving average of $441.00. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $162.33 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49.

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

Wall Street Analyst Weigh In

ADBE has been the subject of a number of research analyst reports. Oppenheimer decreased their target price on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. UBS Group decreased their price objective on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Robert W. Baird reduced their price target on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Finally, StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $502.88.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

About Adobe

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.