Adobe Inc (ADBE) Shares Bought by Avalon Advisors LLC

Avalon Advisors LLC grew its stake in shares of Adobe Inc (NASDAQ:ADBE) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,454 shares of the software company’s stock after acquiring an additional 3,248 shares during the period. Avalon Advisors LLC’s holdings in Adobe were worth $23,858,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADBE. Campbell & CO Investment Adviser LLC acquired a new position in shares of Adobe during the 3rd quarter worth approximately $324,000. Eagle Asset Management Inc. increased its holdings in shares of Adobe by 4.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 26,722 shares of the software company’s stock worth $7,213,000 after acquiring an additional 1,122 shares during the last quarter. FTB Advisors Inc. increased its holdings in shares of Adobe by 42.7% during the 3rd quarter. FTB Advisors Inc. now owns 3,210 shares of the software company’s stock worth $865,000 after acquiring an additional 960 shares during the last quarter. Claraphi Advisory Network LLC increased its holdings in shares of Adobe by 82.1% during the 3rd quarter. Claraphi Advisory Network LLC now owns 2,682 shares of the software company’s stock worth $724,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Vantage Investment Advisors LLC increased its holdings in shares of Adobe by 0.8% during the 3rd quarter. Vantage Investment Advisors LLC now owns 33,258 shares of the software company’s stock worth $8,978,000 after acquiring an additional 255 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

ADBE opened at $257.76 on Tuesday. The firm has a market cap of $129.31 billion, a PE ratio of 46.44, a P/E/G ratio of 2.59 and a beta of 1.10. Adobe Inc has a 52-week low of $204.95 and a 52-week high of $277.61. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.25). The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. Adobe had a return on equity of 31.19% and a net margin of 28.69%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share. Equities analysts forecast that Adobe Inc will post 6.21 earnings per share for the current year.

In related news, EVP Bradley Rencher sold 30,000 shares of the company’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $246.46, for a total transaction of $7,393,800.00. Following the completion of the sale, the executive vice president now directly owns 42,340 shares in the company, valued at approximately $10,435,116.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann Lewnes sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $258.13, for a total value of $774,390.00. Following the sale, the executive vice president now owns 72,368 shares of the company’s stock, valued at $18,680,351.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 282,344 shares of company stock worth $69,007,648. 0.32% of the stock is currently owned by insiders.

A number of research analysts recently weighed in on ADBE shares. KeyCorp decreased their target price on Adobe from $286.00 to $282.00 and set an “overweight” rating on the stock in a report on Friday, December 14th. Credit Suisse Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Adobe in a report on Monday, December 10th. DZ Bank raised Adobe from a “hold” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Thursday, December 27th. Stephens started coverage on Adobe in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $278.00 price objective on the stock. Finally, Nomura set a $315.00 price objective on Adobe and gave the company a “buy” rating in a report on Friday, December 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $285.56.

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Adobe 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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