Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Bank of New Hampshire

Bank of New Hampshire boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 8.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,759 shares of the software company’s stock after acquiring an additional 296 shares during the quarter. Bank of New Hampshire’s holdings in Adobe were worth $1,442,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ADBE. Barden Capital Management Inc. raised its stake in shares of Adobe by 3.0% in the 1st quarter. Barden Capital Management Inc. now owns 6,147 shares of the software company’s stock worth $2,358,000 after buying an additional 178 shares in the last quarter. RDA Financial Network raised its stake in shares of Adobe by 2.0% in the 1st quarter. RDA Financial Network now owns 7,161 shares of the software company’s stock worth $2,746,000 after buying an additional 138 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Adobe by 9.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,924 shares of the software company’s stock worth $1,121,000 after buying an additional 249 shares in the last quarter. Seilern Investment Management Ltd raised its stake in shares of Adobe by 0.7% in the 1st quarter. Seilern Investment Management Ltd now owns 250,794 shares of the software company’s stock worth $96,187,000 after buying an additional 1,753 shares in the last quarter. Finally, Revolve Wealth Partners LLC raised its stake in shares of Adobe by 8.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 1,416 shares of the software company’s stock worth $543,000 after buying an additional 111 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Mizuho reduced their price objective on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Jefferies Financial Group reduced their price objective on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Citigroup reduced their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Royal Bank of Canada reissued an “outperform” rating and set a $480.00 price objective on shares of Adobe in a research note on Thursday. Finally, JPMorgan Chase & Co. reduced their price objective on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $502.88.

Adobe Price Performance

ADBE opened at $416.92 on Friday. The stock has a market cap of $177.69 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average price of $381.41 and a 200 day moving average price of $424.72.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter last year, the firm earned $4.48 earnings per share. Analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.