Randolph Co Inc Sells 584 Shares of Adobe Inc. (NASDAQ:ADBE)

Randolph Co Inc lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.7% during the 1st quarter, HoldingsChannel reports. The firm owned 33,362 shares of the software company’s stock after selling 584 shares during the period. Adobe accounts for approximately 1.5% of Randolph Co Inc’s portfolio, making the stock its 27th largest position. Randolph Co Inc’s holdings in Adobe were worth $12,795,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADBE. Arizona State Retirement System increased its position in Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after acquiring an additional 570 shares during the last quarter. Burling Wealth Partners LLC bought a new position in shares of Adobe in the fourth quarter worth about $1,173,000. Horan Capital Advisors LLC. grew its holdings in shares of Adobe by 2.4% in the fourth quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company’s stock worth $2,162,000 after purchasing an additional 114 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Adobe by 85.8% in the fourth quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company’s stock worth $1,043,000 after purchasing an additional 1,083 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Adobe in the fourth quarter worth about $38,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.2%

Shares of NASDAQ:ADBE opened at $413.68 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $176.31 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The firm’s 50-day moving average is $385.73 and its two-hundred day moving average is $422.64. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the prior year, the firm earned $4.48 earnings per share. Analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the subject of several analyst reports. Bank of America decreased their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. UBS Group increased their price target on shares of Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup raised their price target on shares of Adobe from $430.00 to $465.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley cut their target price on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Nine investment 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $503.33.

Insider Transactions at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Adobe 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.