Hyman Charles D Acquires 91 Shares of Adobe Inc. (NASDAQ:ADBE)

Hyman Charles D raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,110 shares of the software company’s stock after acquiring an additional 91 shares during the quarter. Hyman Charles D’s holdings in Adobe were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. McCollum Christoferson Group LLC boosted its position in shares of Adobe by 3.4% in the 1st quarter. McCollum Christoferson Group LLC now owns 610 shares of the software company’s stock worth $290,000 after purchasing an additional 20 shares during the last quarter. Bank of Stockton boosted its holdings in Adobe by 0.3% during the first quarter. Bank of Stockton now owns 7,461 shares of the software company’s stock worth $3,546,000 after buying an additional 20 shares during the last quarter. Spotlight Asset Group Inc. grew its position in shares of Adobe by 3.0% during the 1st quarter. Spotlight Asset Group Inc. now owns 713 shares of the software company’s stock worth $339,000 after buying an additional 21 shares during the period. Lantz Financial LLC increased its stake in shares of Adobe by 2.5% in the 1st quarter. Lantz Financial LLC now owns 855 shares of the software company’s stock valued at $406,000 after acquiring an additional 21 shares during the last quarter. Finally, Baystate Wealth Management LLC raised its position in shares of Adobe by 10.5% in the 4th quarter. Baystate Wealth Management LLC now owns 231 shares of the software company’s stock valued at $116,000 after acquiring an additional 22 shares during the period. 82.43% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Abhay Parasnis sold 4,000 shares of the firm’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $524.00, for a total transaction of $2,096,000.00. Following the transaction, the executive vice president now owns 39,746 shares of the company’s stock, valued at $20,826,904. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John Francis Murphy sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $512.78, for a total value of $1,666,535.00. Following the transaction, the chief financial officer now directly owns 22,790 shares in the company, valued at approximately $11,686,256.20. The disclosure for this sale can be found here. Insiders have sold a total of 13,836 shares of company stock valued at $7,093,673 over the last three months. 0.31% of the stock is currently owned by insiders.

Shares of ADBE stock traded down $16.95 on Tuesday, reaching $486.51. The stock had a trading volume of 59,283 shares, compared to its average volume of 2,647,097. The stock has a market cap of $232.55 billion, a P/E ratio of 44.94, a price-to-earnings-growth ratio of 2.55 and a beta of 0.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 1.48. The company has a 50 day simple moving average of $488.57 and a 200 day simple moving average of $479.62. Adobe Inc. has a 1 year low of $340.00 and a 1 year high of $536.88.

Adobe (NASDAQ:ADBE) last released its earnings results on Monday, March 22nd. The software company reported $3.14 EPS for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.35. Adobe had a return on equity of 35.81% and a net margin of 40.88%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company posted $2.27 earnings per share. The company’s revenue was up 26.3% compared to the same quarter last year. On average, equities research analysts anticipate that Adobe Inc. will post 9.47 earnings per share for the current fiscal year.

ADBE has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Adobe from $585.00 to $595.00 and gave the company an “overweight” rating in a research note on Wednesday, March 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $523.00 price objective on shares of Adobe in a research note on Wednesday, March 3rd. Guggenheim reissued a “hold” rating on shares of Adobe in a research note on Thursday, April 22nd. UBS Group reaffirmed a “buy” rating on shares of Adobe in a research report on Thursday, April 8th. Finally, Wolfe Research initiated coverage on Adobe in a research report on Wednesday, April 28th. They issued an “outperform” rating and a $650.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company. Adobe has a consensus rating of “Buy” and a consensus price target of $551.68.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, 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.

Further Reading: Beige Book

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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