Gulf International Bank UK Ltd raised its stake in Adobe Inc (NASDAQ:ADBE) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,621 shares of the software company’s stock after acquiring an additional 2,885 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Adobe were worth $31,344,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in ADBE. Liberty Wealth Management LLC purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $30,000. Canton Hathaway LLC purchased a new stake in shares of Adobe in the first quarter valued at approximately $35,000. Barnett & Company Inc. purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $32,000. Ruggie Capital Group purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $33,000. Finally, Legacy Advisors LLC purchased a new stake in shares of Adobe in the first quarter valued at approximately $39,000. 86.69% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. BidaskClub cut Adobe from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Barclays restated a “buy” rating and issued a $304.00 price objective on shares of Adobe in a research report on Monday, March 18th. DZ Bank restated a “hold” rating on shares of Adobe in a research report on Friday, February 22nd. Zacks Investment Research cut Adobe from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Finally, Canaccord Genuity boosted their price objective on Adobe from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the stock. Adobe currently has a consensus rating of “Buy” and a consensus target price of $285.56.
Shares of ADBE opened at $270.57 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.97 and a quick ratio of 0.97. Adobe Inc has a one year low of $204.95 and a one year high of $277.61. The company has a market cap of $132.02 billion, a P/E ratio of 48.75, a PEG ratio of 2.66 and a beta of 1.10.
Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.25). Adobe had a return on equity of 30.60% and a net margin of 28.08%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, equities analysts predict that Adobe Inc will post 6.24 EPS for the current year.
In other Adobe news, CMO Ann Lewnes sold 3,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $240.16, for a total transaction of $720,480.00. Following the transaction, the chief marketing officer now owns 75,368 shares of the company’s stock, valued at $18,100,378.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Thompson sold 41,560 shares of the business’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $245.23, for a total value of $10,191,758.80. Following the transaction, the executive vice president now directly owns 63,087 shares in the company, valued at approximately $15,470,825.01. The disclosure for this sale can be found here. Insiders have sold 287,330 shares of company stock valued at $71,134,520 over the last quarter. 0.32% of the stock is owned by company insiders.
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Adobe Company Profile
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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