Adobe Inc (ADBE) Stake Decreased by First Bank & Trust

First Bank & Trust lowered its position in Adobe Inc (NASDAQ:ADBE) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,531 shares of the software company’s stock after selling 527 shares during the quarter. First Bank & Trust’s holdings in Adobe were worth $941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brookstone Capital Management grew its holdings in Adobe by 4.6% during the 4th quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock worth $210,000 after acquiring an additional 41 shares in the last quarter. JOYN Advisors Inc. grew its holdings in Adobe by 7.4% during the 4th quarter. JOYN Advisors Inc. now owns 622 shares of the software company’s stock worth $141,000 after acquiring an additional 43 shares in the last quarter. Ipswich Investment Management Co. Inc. grew its holdings in Adobe by 2.8% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 1,640 shares of the software company’s stock worth $437,000 after acquiring an additional 45 shares in the last quarter. Townsend & Associates Inc grew its holdings in Adobe by 1.0% during the 1st quarter. Townsend & Associates Inc now owns 4,767 shares of the software company’s stock worth $1,270,000 after acquiring an additional 49 shares in the last quarter. Finally, Founders Capital Management grew its holdings in Adobe by 0.3% during the 4th quarter. Founders Capital Management now owns 17,500 shares of the software company’s stock worth $3,959,000 after acquiring an additional 50 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

In other Adobe news, Director John E. Warnock sold 1,177 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $269.47, for a total transaction of $317,166.19. Following the completion of the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $4,335,233.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donna Morris sold 13,804 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $270.00, for a total transaction of $3,727,080.00. Following the transaction, the executive vice president now directly owns 5,603 shares of the company’s stock, valued at $1,512,810. The disclosure for this sale can be found here. Insiders have sold a total of 284,330 shares of company stock valued at $70,317,980 over the last three months. 0.32% of the stock is currently owned by insiders.

Shares of Adobe stock traded up $0.28 during midday trading on Monday, hitting $272.14. The company had a trading volume of 16,660 shares, compared to its average volume of 3,075,567. The firm has a market capitalization of $133.44 billion, a P/E ratio of 48.92, a PEG ratio of 2.66 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.33. Adobe Inc has a 12-month low of $204.95 and a 12-month high of $277.61.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.25). The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Adobe had a net margin of 28.08% and a return on equity of 30.60%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, research analysts anticipate that Adobe Inc will post 6.24 earnings per share for the current fiscal year.

Several analysts have commented on ADBE shares. Robert W. Baird increased their price target on shares of Adobe from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Rosenblatt Securities reissued a “buy” rating and set a $280.00 price target on shares of Adobe in a research report on Friday, March 29th. BidaskClub raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Zacks Investment Research lowered shares of Adobe from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Finally, Cowen lowered shares of Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 price target for the company. in a research report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the stock. Adobe has an average rating of “Buy” and a consensus target price of $285.56.

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Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, 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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