Schroder Investment Management Group Has $900.05 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Schroder Investment Management Group cut its position in Adobe Inc. (NASDAQ:ADBE) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,024,046 shares of the software company’s stock after selling 152,431 shares during the quarter. Adobe accounts for about 0.9% of Schroder Investment Management Group’s portfolio, making the stock its 19th largest holding. Schroder Investment Management Group owned about 0.46% of Adobe worth $900,053,000 at the end of the most recent reporting period.

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

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction 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 three months, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. UBS Group set a $495.00 price target on shares of Adobe in a report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Summit Redstone set a $410.00 target price on Adobe in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $533.85.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $385.71 on Friday. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $164.39 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a 50 day moving average of $431.81 and a 200 day moving average of $469.69.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the prior year, the company earned $4.48 EPS. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.