Actinver Wealth Management Inc. Decreases Holdings in Adobe Inc (NASDAQ:ADBE)

Actinver Wealth Management Inc. trimmed its position in shares of Adobe Inc (NASDAQ:ADBE) by 25.5% during the first quarter, HoldingsChannel reports. The firm owned 2,148 shares of the software company’s stock after selling 735 shares during the quarter. Actinver Wealth Management Inc.’s holdings in Adobe were worth $572,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ADBE. New Amsterdam Partners LLC NY raised its stake in shares of Adobe by 2.5% in the first quarter. New Amsterdam Partners LLC NY now owns 1,458 shares of the software company’s stock valued at $389,000 after acquiring an additional 36 shares in the last quarter. Wedgewood Investors Inc. PA increased its holdings in Adobe by 3.5% in the first quarter. Wedgewood Investors Inc. PA now owns 1,139 shares of the software company’s stock valued at $304,000 after buying an additional 39 shares during the last quarter. Associated Banc Corp increased its holdings in Adobe by 1.1% in the first quarter. Associated Banc Corp now owns 3,537 shares of the software company’s stock valued at $943,000 after buying an additional 39 shares during the last quarter. Brookstone Capital Management increased its holdings in Adobe by 4.6% in the fourth quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock valued at $210,000 after buying an additional 41 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its holdings in Adobe by 1.7% in the first quarter. Eagle Global Advisors LLC now owns 2,522 shares of the software company’s stock valued at $672,000 after buying an additional 42 shares during the last quarter. Institutional investors own 85.89% of the company’s stock.

In other Adobe news, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $260.54, for a total transaction of $781,620.00. Following the transaction, the chief marketing officer now owns 69,368 shares of the company’s stock, valued at $18,073,138.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dana Rao sold 5,955 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $255.08, for a total value of $1,519,001.40. Following the transaction, the executive vice president now directly owns 17,087 shares in the company, valued at approximately $4,358,551.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,936 shares of company stock worth $15,516,808. Corporate insiders own 0.32% of the company’s stock.

Several research firms recently commented on ADBE. BidaskClub lowered Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered Adobe from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Morgan Stanley raised Adobe from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $282.00 to $340.00 in a report on Monday, April 29th. Rosenblatt Securities reissued a “buy” rating and issued a $280.00 target price on shares of Adobe in a report on Friday, March 29th. Finally, Barclays reissued a “buy” rating and issued a $304.00 target price on shares of Adobe in a report on Monday, March 18th. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Adobe currently has a consensus rating of “Buy” and a consensus target price of $290.46.

Shares of ADBE stock opened at $276.30 on Friday. The stock has a market cap of $134.67 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 2.70 and a beta of 1.12. Adobe Inc has a 1 year low of $204.95 and a 1 year high of $291.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.97 and a current ratio of 0.97.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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 firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Adobe had a return on equity of 30.60% and a net margin of 28.08%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 EPS. Analysts predict that Adobe Inc will post 6.24 earnings per share for the current year.

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About Adobe

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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