Thematics Asset Management Purchases 873 Shares of Adobe Inc. (NASDAQ:ADBE)

Thematics Asset Management raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,013 shares of the software company’s stock after buying 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 reporting period.

Other large investors have also added to or reduced their stakes in the company. Decker Retirement Planning Inc. bought a new stake in shares of Adobe in the fourth quarter worth about $31,000. Summit Securities Group LLC purchased a new stake in Adobe in the 4th quarter worth approximately $31,000. Caitlin John LLC increased 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 buying an additional 48 shares during the period. Mascoma Wealth Management LLC raised its holdings in shares of Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after acquiring an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Adobe in the fourth quarter worth $38,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.3 %

NASDAQ:ADBE opened at $348.80 on Friday. 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 12 month low of $332.01 and a 12 month high of $587.75. The company has a market cap of $148.66 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a 50 day simple moving average of $403.54 and a two-hundred day simple moving average of $450.04.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the company posted $4.48 EPS. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ADBE shares. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday, March 21st. Oppenheimer cut their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Bank of America decreased their target price on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Summit Redstone set a $410.00 price target on Adobe in a research report on Wednesday, March 19th. Finally, Robert W. Baird reduced their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Eleven 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $513.27.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was 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 owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 in the last 90 days. Company insiders own 0.16% of the company’s stock.

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.