Impax Asset Management Group plc Acquires 773 Shares of Adobe Inc. (NASDAQ:ADBE)

Impax Asset Management Group plc boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 54.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,189 shares of the software company’s stock after purchasing an additional 773 shares during the quarter. Impax Asset Management Group plc’s holdings in Adobe were worth $973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quartz Partners LLC boosted its stake in Adobe by 11.8% in the 4th quarter. Quartz Partners LLC now owns 4,078 shares of the software company’s stock worth $1,813,000 after purchasing an additional 431 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in Adobe by 0.6% in the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 30,713 shares of the software company’s stock worth $13,657,000 after purchasing an additional 168 shares during the period. GHE LLC boosted its stake in Adobe by 2.9% in the 4th quarter. GHE LLC now owns 23,577 shares of the software company’s stock worth $10,484,000 after purchasing an additional 670 shares during the period. IFP Advisors Inc boosted its stake in Adobe by 9.6% in the 4th quarter. IFP Advisors Inc now owns 5,736 shares of the software company’s stock worth $2,553,000 after purchasing an additional 502 shares during the period. Finally, Shariaportfolio Inc. boosted its stake in Adobe by 9.2% in the 4th quarter. Shariaportfolio Inc. now owns 3,364 shares of the software company’s stock worth $1,496,000 after purchasing an additional 283 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

ADBE stock opened at $443.41 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $439.88 and its two-hundred day simple moving average is $492.62. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The firm has a market cap of $193.02 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.15 and a beta of 1.31.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Oppenheimer dropped their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Sanford C. Bernstein lowered their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. BMO Capital Markets lowered their target price on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. DA Davidson lowered their target price on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group lowered their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

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.