Trust Co. of Toledo NA OH Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Trust Co. of Toledo NA OH grew its stake in Adobe Inc. (NASDAQ:ADBE) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,574 shares of the software company’s stock after acquiring an additional 224 shares during the period. Trust Co. of Toledo NA OH’s holdings in Adobe were worth $1,371,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Adobe in the fourth quarter worth $76,712,000. Root Financial Partners LLC increased its position in shares of Adobe by 40.9% during the fourth quarter. Root Financial Partners LLC now owns 603 shares of the software company’s stock worth $268,000 after purchasing an additional 175 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Adobe by 7.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 7,919 shares of the software company’s stock valued at $3,521,000 after purchasing an additional 523 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock worth $12,882,000 after purchasing an additional 756 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ADBE shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Evercore ISI reiterated an “outperform” rating and set a $475.00 price objective on shares of Adobe in a research note on Friday. Stifel Nicolaus dropped their price objective on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird lowered their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Finally, Oppenheimer cut their price objective on Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $494.67.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Adobe Price Performance

Adobe stock opened at $391.68 on Friday. 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 company has a 50-day moving average price of $386.76 and a 200 day moving average price of $421.08. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The stock has a market cap of $166.93 billion, a P/E ratio of 31.59, a PEG ratio of 2.15 and a beta of 1.55.

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