Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 24.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 409,095 shares of the software company’s stock after buying an additional 80,489 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Adobe were worth $211,821,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Square Asset Management LLC grew its holdings in shares of Adobe by 3.6% in the 3rd quarter. Blue Square Asset Management LLC now owns 4,942 shares of the software company’s stock worth $2,559,000 after acquiring an additional 174 shares during the last quarter. BSW Wealth Partners boosted its position in shares of Adobe by 15.4% in the 3rd quarter. BSW Wealth Partners now owns 1,313 shares of the software company’s stock valued at $680,000 after purchasing an additional 175 shares during the period. Nvwm LLC increased its stake in Adobe by 1.1% in the 3rd quarter. Nvwm LLC now owns 2,966 shares of the software company’s stock worth $1,536,000 after purchasing an additional 32 shares in the last quarter. Angeles Wealth Management LLC raised its holdings in Adobe by 22.6% during the 3rd quarter. Angeles Wealth Management LLC now owns 2,228 shares of the software company’s stock worth $1,154,000 after buying an additional 410 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Adobe by 0.9% during the third quarter. Van ECK Associates Corp now owns 884,016 shares of the software company’s stock valued at $428,774,000 after buying an additional 8,176 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ADBE shares. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Stifel Nicolaus lifted their price objective on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Oppenheimer reissued an “outperform” rating and set a $625.00 target price on shares of Adobe in a research note on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Insider Activity

In related news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Up 1.0 %

Adobe stock opened at $482.80 on Monday. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company’s fifty day moving average price is $522.17 and its two-hundred day moving average price is $516.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $212.53 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.46 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the firm posted $3.26 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts forecast that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

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.