Banco Santander S.A. raised its position in shares of Adobe Inc (NASDAQ:ADBE) by 15.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 36,143 shares of the software company’s stock after purchasing an additional 4,969 shares during the quarter. Banco Santander S.A.’s holdings in Adobe were worth $11,502,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ADBE. Orser Capital Management LLC lifted its position in Adobe by 4.8% during the 4th quarter. Orser Capital Management LLC now owns 10,598 shares of the software company’s stock valued at $3,480,000 after acquiring an additional 488 shares during the period. RFG Advisory LLC purchased a new position in Adobe during the 4th quarter valued at about $414,000. Davis R M Inc. lifted its position in Adobe by 25.0% during the 4th quarter. Davis R M Inc. now owns 1,816 shares of the software company’s stock valued at $599,000 after acquiring an additional 363 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Adobe during the 4th quarter valued at about $779,000. Finally, Mckinley Capital Management LLC Delaware lifted its position in Adobe by 3.4% during the 4th quarter. Mckinley Capital Management LLC Delaware now owns 1,425 shares of the software company’s stock valued at $470,000 after acquiring an additional 47 shares during the period. 85.98% of the stock is owned by institutional investors and hedge funds.
In other news, CMO Ann Lewnes sold 5,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $348.26, for a total value of $1,741,300.00. Following the transaction, the chief marketing officer now directly owns 54,874 shares in the company, valued at $19,110,419.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 600 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $352.45, for a total transaction of $211,470.00. Following the completion of the sale, the executive vice president now directly owns 12,817 shares of the company’s stock, valued at $4,517,351.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,298 shares of company stock worth $4,025,976. Company insiders own 0.31% of the company’s stock.
A number of research firms have weighed in on ADBE. Cleveland Research upgraded shares of Adobe from a “neutral” rating to a “buy” rating in a research note on Monday, January 27th. BidaskClub upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Morgan Stanley raised their price objective on shares of Adobe from $366.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. Royal Bank of Canada reduced their price objective on shares of Adobe from $345.00 to $325.00 in a research note on Friday, March 13th. Finally, Stifel Nicolaus reduced their price objective on shares of Adobe from $350.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, March 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $342.54.
ADBE traded up $3.09 during trading hours on Friday, hitting $385.26. The company’s stock had a trading volume of 1,627,227 shares, compared to its average volume of 2,763,171. The business’s 50-day moving average price is $342.06 and its 200-day moving average price is $332.10. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.39. The stock has a market cap of $184.13 billion, a price-to-earnings ratio of 58.37, a P/E/G ratio of 2.98 and a beta of 0.90. Adobe Inc has a 12 month low of $255.13 and a 12 month high of $386.74.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 12th. The software company reported $2.27 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.04. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Adobe had a net margin of 27.72% and a return on equity of 33.54%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 earnings per share. On average, analysts forecast that Adobe Inc will post 8 earnings per share for the current year.
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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