Caisse DE Depot ET Placement DU Quebec Has $199.67 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Caisse DE Depot ET Placement DU Quebec lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 29.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 449,011 shares of the software company’s stock after acquiring an additional 101,996 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.10% of Adobe worth $199,666,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in ADBE. Sepio Capital LP raised its stake in shares of Adobe by 2.3% in the fourth quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after acquiring an additional 22 shares during the last quarter. Cadence Bank lifted its holdings in Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company’s stock valued at $2,171,000 after buying an additional 22 shares during the period. Foster Group Inc. boosted its stake in Adobe by 4.6% in the fourth quarter. Foster Group Inc. now owns 526 shares of the software company’s stock valued at $234,000 after acquiring an additional 23 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in Adobe by 0.4% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock worth $2,404,000 after acquiring an additional 23 shares during the period. Finally, Veery Capital LLC increased its holdings in Adobe by 1.9% in the fourth quarter. Veery Capital LLC now owns 1,315 shares of the software company’s stock valued at $585,000 after purchasing an additional 24 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 1.1 %

ADBE stock opened at $374.98 on Thursday. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. 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 firm has a market capitalization of $159.82 billion, a PE ratio of 30.24, a PEG ratio of 2.15 and a beta of 1.49. The stock has a 50-day simple moving average of $388.06 and a two-hundred day simple moving average of $442.81.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 earnings per share. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Piper Sandler dropped their price objective on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Summit Redstone set a $410.00 price target on shares of Adobe in a research note on Wednesday, March 19th. Finally, BMO Capital Markets lowered their price objective on shares of Adobe from $495.00 to $450.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $502.88.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.