Roman Butler Fullerton & Co. Sells 153 Shares of Adobe Inc. (NASDAQ:ADBE)

Roman Butler Fullerton & Co. reduced its position in Adobe Inc. (NASDAQ:ADBE) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,976 shares of the software company’s stock after selling 153 shares during the period. Roman Butler Fullerton & Co.’s holdings in Adobe were worth $1,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Adobe during the fourth quarter valued at $2,553,035,000. GAMMA Investing LLC raised its position in Adobe by 46,806.6% in the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after buying an additional 2,984,391 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after acquiring an additional 1,041,513 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock valued at $937,291,000 after acquiring an additional 952,233 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Adobe by 1,414.5% during the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company’s stock valued at $395,321,000 after acquiring an additional 830,300 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ADBE shares. DA Davidson decreased their price objective on shares of Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a report on Monday, April 14th. Stifel Nicolaus decreased their target price on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, June 13th. Redburn Atlantic initiated coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $480.00 target price on shares of Adobe in a report on Thursday, June 5th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $494.67.

Adobe Stock Performance

NASDAQ ADBE opened at $382.68 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The business has a 50-day moving average price of $388.36 and a 200-day moving average price of $419.38. The firm has a market cap of $163.10 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.55.

Insider Activity

In other news, CFO Daniel Durn acquired 1,300 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company 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.