Compagnie Lombard Odier SCmA Sells 19,395 Shares of Adobe Inc. (NASDAQ:ADBE)

Compagnie Lombard Odier SCmA lowered its position in Adobe Inc. (NASDAQ:ADBE) by 9.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 195,206 shares of the software company’s stock after selling 19,395 shares during the quarter. Adobe accounts for about 1.3% of Compagnie Lombard Odier SCmA’s investment portfolio, making the stock its 21st biggest holding. Compagnie Lombard Odier SCmA’s holdings in Adobe were worth $86,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ADBE. CX Institutional grew its holdings in shares of Adobe by 4.2% in the third quarter. CX Institutional now owns 2,298 shares of the software company’s stock worth $1,190,000 after acquiring an additional 93 shares during the period. Creative Planning grew its holdings in Adobe by 34.9% during the third quarter. Creative Planning now owns 165,167 shares of the software company’s stock valued at $84,750,000 after purchasing an additional 42,736 shares during the period. Swedbank AB grew its holdings in Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after purchasing an additional 3,739 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Adobe by 5.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,645 shares of the software company’s stock valued at $852,000 after purchasing an additional 88 shares during the period. Finally, Wolff Wiese Magana LLC grew its holdings in Adobe by 3.0% during the third quarter. Wolff Wiese Magana LLC now owns 1,155 shares of the software company’s stock valued at $598,000 after purchasing an additional 34 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.8 %

Shares of ADBE stock opened at $459.22 on Friday. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $610.33. 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 stock’s 50 day simple moving average is $449.99 and its two-hundred day simple moving average is $497.68. The company has a market cap of $199.90 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the business posted $3.52 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks purchased 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on 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 approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent research reports. BMO Capital Markets cut their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Mizuho cut their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Adobe 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.