National Bank of Canada FI Acquires 132,930 Shares of Adobe Inc. (NASDAQ:ADBE)

National Bank of Canada FI increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 33.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 529,680 shares of the software company’s stock after buying an additional 132,930 shares during the quarter. National Bank of Canada FI owned 0.12% of Adobe worth $235,571,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Riggs Capital Management LLC acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $345,000. Rodgers Brothers Inc. boosted its position in Adobe by 34.7% in the fourth quarter. Rodgers Brothers Inc. now owns 5,590 shares of the software company’s stock valued at $2,486,000 after buying an additional 1,440 shares in the last quarter. Boston Research & Management Inc. increased its holdings in shares of Adobe by 6.1% during the fourth quarter. Boston Research & Management Inc. now owns 7,956 shares of the software company’s stock worth $3,537,000 after buying an additional 457 shares in the last quarter. Summit Financial LLC lifted its stake in shares of Adobe by 24.0% in the 4th quarter. Summit Financial LLC now owns 4,638 shares of the software company’s stock valued at $2,062,000 after acquiring an additional 897 shares during the last quarter. Finally, Hoey Investments Inc. boosted its holdings in shares of Adobe by 21.9% during the 4th quarter. Hoey Investments Inc. now owns 239 shares of the software company’s stock valued at $106,000 after acquiring an additional 43 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on ADBE shares. Redburn Atlantic began coverage on Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and dropped their price objective for the company from $625.00 to $550.00 in a report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. Morgan Stanley dropped their price target on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Robert W. Baird reduced their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $531.54.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $383.53 on Tuesday. 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 firm’s 50-day moving average price is $430.88 and its 200-day moving average price is $467.49. The firm has a market capitalization of $163.46 billion, a P/E ratio of 30.93, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last posted its quarterly 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 the consensus estimate 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 business earned $4.48 EPS. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share 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.