New Hampshire Trust Sells 39 Shares of Adobe Inc. (NASDAQ:ADBE)

New Hampshire Trust lowered its position in Adobe Inc. (NASDAQ:ADBE) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,872 shares of the software company’s stock after selling 39 shares during the quarter. New Hampshire Trust’s holdings in Adobe were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Piscataqua Savings Bank increased its holdings in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the period. Legacy Investment Solutions LLC bought a new position in Adobe during the 3rd quarter worth approximately $26,000. Groupama Asset Managment increased its stake in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Adobe in the third quarter valued at approximately $30,000. Finally, True Wealth Design LLC boosted its stake in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADBE has been the topic of several analyst reports. Oppenheimer decreased their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Sanford C. Bernstein decreased their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Trading Up 0.7 %

Adobe stock opened at $429.99 on Tuesday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a current ratio of 1.07, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $476.55 and its two-hundred day simple moving average is $512.03. The company has a market capitalization of $189.28 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.52 EPS. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,763 shares of company stock valued at $893,665 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

About Adobe

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.