Mawer Investment Management Ltd. Raises Stake in Adobe Inc. (NASDAQ:ADBE)

Mawer Investment Management Ltd. raised its stake in Adobe Inc. (NASDAQ:ADBE) by 29.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,874 shares of the software company’s stock after buying an additional 11,275 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Adobe were worth $24,943,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADBE. SB Management Ltd purchased a new stake in Adobe in the 3rd quarter valued at $684,774,000. Morgan Stanley grew its holdings in shares of Adobe by 20.3% during the 3rd quarter. Morgan Stanley now owns 6,204,962 shares of the software company’s stock worth $3,043,100,000 after purchasing an additional 1,045,762 shares during the period. BlackRock Inc. grew its holdings in shares of Adobe by 2.0% during the 4th quarter. BlackRock Inc. now owns 37,765,781 shares of the software company’s stock worth $18,887,420,000 after purchasing an additional 753,183 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of Adobe by 2,160.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 511,214 shares of the software company’s stock worth $250,715,000 after purchasing an additional 488,597 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Adobe by 70.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 996,456 shares of the software company’s stock worth $488,584,000 after purchasing an additional 412,566 shares during the period. Institutional investors own 82.43% of the company’s stock.

A number of equities analysts have recently weighed in on ADBE shares. Barclays reiterated a “buy” rating and set a $605.00 price target on shares of Adobe in a report on Sunday, December 13th. Wedbush increased their price target on Adobe from $410.00 to $510.00 and gave the stock a “neutral” rating in a report on Wednesday, February 3rd. Stifel Nicolaus started coverage on Adobe in a report on Friday, January 15th. They set a “buy” rating for the company. Credit Suisse Group increased their target price on Adobe from $560.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, December 11th. Finally, The Goldman Sachs Group started coverage on Adobe in a research note on Thursday, January 21st. They set a “buy” rating and a $580.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $527.42.

In other news, EVP Scott Belsky sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $489.38, for a total value of $293,628.00. Following the completion of the sale, the executive vice president now directly owns 16,067 shares of the company’s stock, valued at approximately $7,862,868.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shantanu Narayen sold 80,907 shares of the firm’s stock in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $471.85, for a total value of $38,175,967.95. The disclosure for this sale can be found here. Insiders sold a total of 114,063 shares of company stock valued at $53,715,598 over the last three months. Insiders own 0.31% of the company’s stock.

Shares of ADBE traded down $5.44 during mid-day trading on Tuesday, hitting $461.89. The company’s stock had a trading volume of 102,569 shares, compared to its average volume of 2,585,729. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $478.42 and a 200 day simple moving average of $481.07. The firm has a market capitalization of $221.58 billion, a P/E ratio of 43.11, a P/E/G ratio of 2.55 and a beta of 0.97. Adobe Inc. has a 1-year low of $255.13 and a 1-year high of $536.88.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 9th. The software company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.66 by $0.15. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.36 billion. Adobe had a return on equity of 35.81% and a net margin of 40.88%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 9.47 EPS for the current fiscal year.

Adobe declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 10th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the software company to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Adobe Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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