Adobe Inc. (NASDAQ:ADBE) Shares Acquired by First American Trust FSB

First American Trust FSB boosted its position in Adobe Inc. (NASDAQ:ADBE) by 0.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,364 shares of the software company’s stock after purchasing an additional 37 shares during the period. First American Trust FSB’s holdings in Adobe were worth $7,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1ST Source Bank raised its stake in shares of Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after buying an additional 20 shares during the last quarter. Foster Group Inc. increased its holdings in Adobe by 4.6% during the 4th quarter. Foster Group Inc. now owns 526 shares of the software company’s stock valued at $234,000 after acquiring an additional 23 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in Adobe by 0.4% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock worth $2,404,000 after acquiring an additional 23 shares during the last quarter. Veery Capital LLC lifted its holdings in shares of Adobe by 1.9% in the fourth quarter. Veery Capital LLC now owns 1,315 shares of the software company’s stock valued at $585,000 after purchasing an additional 24 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its position in shares of Adobe by 1.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,327 shares of the software company’s stock valued at $590,000 after purchasing an additional 24 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 922 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Daniel Durn purchased 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is owned by company insiders.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $394.47 on Tuesday. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The company has a market capitalization of $171.75 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.15 and a beta of 1.37. 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 business has a 50-day moving average of $433.88 and a 200-day moving average of $473.88.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the firm earned $4.48 EPS. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Bank of America cut their price objective on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 15th. BMO Capital Markets decreased their price objective on Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Stifel Nicolaus cut their target price on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Jefferies Financial Group decreased their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $538.80.

About Adobe

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.