Shine Investment Advisory Services Inc. lifted its position in shares of Adobe Inc (NASDAQ:ADBE) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,506 shares of the software company’s stock after purchasing an additional 65 shares during the period. Shine Investment Advisory Services Inc.’s holdings in Adobe were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. Liberty Wealth Management LLC bought a new position in Adobe during the 4th quarter worth $30,000. Canton Hathaway LLC bought a new position in shares of Adobe in the 1st quarter valued at $35,000. Barnett & Company Inc. bought a new position in shares of Adobe in the 4th quarter valued at $32,000. Ruggie Capital Group bought a new position in shares of Adobe in the 4th quarter valued at $33,000. Finally, Legacy Advisors LLC bought a new position in shares of Adobe in the 1st quarter valued at $39,000. Institutional investors own 86.69% of the company’s stock.
Several brokerages have recently issued reports on ADBE. Robert W. Baird lifted their price target on Adobe from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $280.00 price target on shares of Adobe in a research note on Friday, March 29th. BidaskClub upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th. Zacks Investment Research lowered Adobe from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Finally, Cowen lowered Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 price target on the stock. in a research note on Friday, February 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $285.56.
In other Adobe news, Director John E. Warnock sold 1,177 shares of Adobe stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $269.47, for a total transaction of $317,166.19. Following the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $4,335,233.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Shantanu Narayen sold 139,834 shares of Adobe stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $245.40, for a total value of $34,315,263.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 284,330 shares of company stock worth $70,317,980. 0.32% of the stock is currently owned by company insiders.
NASDAQ ADBE opened at $271.43 on Wednesday. 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 Inc has a twelve month low of $204.95 and a twelve month high of $277.61. The firm has a market cap of $132.44 billion, a P/E ratio of 48.91, a PEG ratio of 2.66 and a beta of 1.10.
Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.25). Adobe had a net margin of 28.08% and a return on equity of 30.60%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the business earned $1.55 EPS. The company’s revenue was up 24.1% compared to the same quarter last year. On average, analysts forecast that Adobe Inc will post 6.24 earnings per share for the current fiscal year.
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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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