Adobe Inc. (NASDAQ:ADBE) Stock Holdings Increased by Hyman Charles D

Hyman Charles D lifted its position in Adobe Inc. (NASDAQ:ADBE) by 4.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,110 shares of the software company’s stock after buying an additional 91 shares during the period. Hyman Charles D’s holdings in Adobe were worth $1,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. McCollum Christoferson Group LLC boosted its holdings in shares of Adobe by 3.4% in the first quarter. McCollum Christoferson Group LLC now owns 610 shares of the software company’s stock worth $290,000 after buying an additional 20 shares during the period. Bank of Stockton boosted its holdings in shares of Adobe by 0.3% during the first quarter. Bank of Stockton now owns 7,461 shares of the software company’s stock worth $3,546,000 after purchasing an additional 20 shares during the period. Spotlight Asset Group Inc. boosted its holdings in shares of Adobe by 3.0% during the first quarter. Spotlight Asset Group Inc. now owns 713 shares of the software company’s stock worth $339,000 after purchasing an additional 21 shares during the period. Lantz Financial LLC raised its position in Adobe by 2.5% during the first quarter. Lantz Financial LLC now owns 855 shares of the software company’s stock valued at $406,000 after acquiring an additional 21 shares in the last quarter. Finally, Baystate Wealth Management LLC raised its position in Adobe by 10.5% during the fourth quarter. Baystate Wealth Management LLC now owns 231 shares of the software company’s stock valued at $116,000 after acquiring an additional 22 shares in the last quarter. 82.43% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Adobe from $560.00 to $575.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. BMO Capital Markets lowered their price objective on shares of Adobe from $570.00 to $535.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 30th. Credit Suisse Group assumed coverage on shares of Adobe in a research note on Tuesday, March 16th. They set an “outperform” rating and a $575.00 price target on the stock. Guggenheim reissued a “hold” rating on shares of Adobe in a report on Thursday, April 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $570.00 price objective on shares of Adobe in a research note on Wednesday, April 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $551.68.

In related news, Director John E. Warnock sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, April 19th. The shares were sold at an average price of $517.25, for a total value of $1,293,125.00. Following the completion of the transaction, the director now owns 18,882 shares of the company’s stock, valued at $9,766,714.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abhay Parasnis sold 4,000 shares of the stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $524.00, for a total value of $2,096,000.00. Following the sale, the executive vice president now directly owns 39,746 shares in the company, valued at approximately $20,826,904. The disclosure for this sale can be found here. Insiders have sold 13,836 shares of company stock worth $7,093,673 in the last quarter. Company insiders own 0.31% of the company’s stock.

Shares of ADBE stock traded down $16.95 during trading hours on Tuesday, hitting $486.51. The stock had a trading volume of 59,283 shares, compared to its average volume of 2,647,097. The stock’s 50-day moving average price is $488.57 and its two-hundred day moving average price is $479.62. Adobe Inc. has a one year low of $340.00 and a one year high of $536.88. The stock has a market capitalization of $232.55 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 2.55 and a beta of 0.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.48 and a quick ratio of 1.44.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Monday, March 22nd. The software company reported $3.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.79 by $0.35. Adobe had a net margin of 40.88% and a return on equity of 35.81%. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business earned $2.27 earnings per share. Adobe’s quarterly revenue was up 26.3% compared to the same quarter last year. As a group, equities research analysts predict that Adobe Inc. will post 9.47 earnings per share for the current fiscal year.

Adobe Company 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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