Thematics Asset Management Has $8.01 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Thematics Asset Management increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,013 shares of the software company’s stock after acquiring an additional 873 shares during the period. Thematics Asset Management’s holdings in Adobe were worth $8,010,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after purchasing an additional 33,414 shares in the last quarter. Arizona State Retirement System lifted its stake in Adobe by 0.4% during the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after acquiring an additional 570 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after acquiring an additional 1,326 shares during the last quarter. M. Kraus & Co bought a new stake in shares of Adobe in the 4th quarter worth $3,285,000. Finally, Silicon Valley Capital Partners lifted its position in shares of Adobe by 4.1% during the fourth quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock valued at $2,656,000 after purchasing an additional 236 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 1.3 %

ADBE stock opened at $348.80 on Friday. The company’s 50 day moving average is $403.54 and its 200 day moving average is $450.04. The stock has a market cap of $148.66 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

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

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ADBE. Jefferies Financial Group decreased their price objective on shares of Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research note on Monday, March 31st. BMO Capital Markets dropped their price target on Adobe from $495.00 to $450.00 and set an “outperform” rating on the stock in a report on Wednesday. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Mizuho lowered their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, Redburn Atlantic started coverage on shares of Adobe in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $513.27.

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.