Mirova Sells 106 Shares of Adobe Inc. (NASDAQ:ADBE)

Mirova decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 0.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,492 shares of the software company’s stock after selling 106 shares during the period. Adobe comprises approximately 0.9% of Mirova’s investment portfolio, making the stock its 19th biggest holding. Mirova’s holdings in Adobe were worth $5,970,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. 180 Wealth Advisors LLC raised its stake in Adobe by 1.9% during the 1st quarter. 180 Wealth Advisors LLC now owns 1,483 shares of the software company’s stock worth $572,000 after acquiring an additional 27 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Adobe by 12.6% in the first quarter. JFS Wealth Advisors LLC now owns 241 shares of the software company’s stock valued at $93,000 after purchasing an additional 27 shares during the period. B.O.S.S. Retirement Advisors LLC increased its stake in Adobe by 0.5% in the first quarter. B.O.S.S. Retirement Advisors LLC now owns 5,791 shares of the software company’s stock valued at $2,232,000 after purchasing an additional 28 shares during the period. Strategy Asset Managers LLC increased its stake in Adobe by 3.1% in the first quarter. Strategy Asset Managers LLC now owns 919 shares of the software company’s stock valued at $354,000 after purchasing an additional 28 shares during the period. Finally, Capital Impact Advisors LLC increased its stake in Adobe by 3.1% in the fourth quarter. Capital Impact Advisors LLC now owns 958 shares of the software company’s stock valued at $322,000 after purchasing an additional 29 shares during the period. 80.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Adobe news, CAO Mark S. Garfield sold 298 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $526.74, for a total transaction of $156,968.52. Following the transaction, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at $2,135,930.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Dana Rao sold 2,600 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $480.21, for a total value of $1,248,546.00. Following the transaction, the executive vice president now owns 17,466 shares of the company’s stock, valued at approximately $8,387,347.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 298 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $526.74, for a total transaction of $156,968.52. Following the completion of the transaction, the chief accounting officer now directly owns 4,055 shares in the company, valued at approximately $2,135,930.70. The disclosure for this sale can be found here. Insiders have sold a total of 43,089 shares of company stock valued at $20,720,115 over the last quarter. Company insiders own 0.24% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $560.36 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $255.41 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 3.37 and a beta of 1.33. The company’s 50 day simple moving average is $523.74 and its 200 day simple moving average is $434.78. Adobe Inc. has a 1 year low of $274.73 and a 1 year high of $570.24.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 15th. The software company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.12. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.77 billion. Adobe had a net margin of 26.34% and a return on equity of 36.84%. Adobe’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.70 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 12.56 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Adobe from $400.00 to $550.00 in a report on Friday, June 16th. Piper Jaffray Companies lifted their target price on shares of Adobe from $500.00 to $572.00 and gave the company an “overweight” rating in a report on Friday, June 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Adobe from $500.00 to $550.00 in a report on Friday, June 16th. Wells Fargo & Company lifted their target price on shares of Adobe from $525.00 to $600.00 in a report on Friday, June 16th. Finally, Morgan Stanley raised shares of Adobe from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $510.00 to $660.00 in a report on Monday, July 31st. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $532.57.

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.