Eagle Asset Management Inc. Buys 704 Shares of Adobe Inc (ADBE)

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Eagle Asset Management Inc. increased its stake in shares of Adobe Inc (NASDAQ:ADBE) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,152 shares of the software company’s stock after acquiring an additional 704 shares during the quarter. Eagle Asset Management Inc.’s holdings in Adobe were worth $7,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Federated Investors Inc. PA raised its holdings in shares of Adobe by 242.1% in the 3rd quarter. Federated Investors Inc. PA now owns 388,811 shares of the software company’s stock worth $104,960,000 after purchasing an additional 275,158 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Adobe by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 37,046,965 shares of the software company’s stock worth $10,000,828,000 after purchasing an additional 349,019 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of Adobe by 20.0% in the 4th quarter. First Hawaiian Bank now owns 16,012 shares of the software company’s stock worth $3,623,000 after purchasing an additional 2,674 shares in the last quarter. Global Trust Asset Management LLC raised its holdings in shares of Adobe by 105.5% in the 4th quarter. Global Trust Asset Management LLC now owns 409 shares of the software company’s stock worth $93,000 after purchasing an additional 210 shares in the last quarter. Finally, Endurance Wealth Management Inc. raised its holdings in shares of Adobe by 3.3% in the 4th quarter. Endurance Wealth Management Inc. now owns 1,894 shares of the software company’s stock worth $428,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

In related news, Director John E. Warnock sold 1,177 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $269.47, for a total transaction of $317,166.19. Following the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at $4,335,233.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donna Morris sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $290.00, for a total transaction of $2,900,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,936 shares of company stock worth $15,481,738. 0.32% of the stock is currently owned by insiders.

A number of analysts recently commented on the stock. Zacks Investment Research downgraded shares of Adobe from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. BidaskClub upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, January 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $280.00 target price on shares of Adobe in a report on Friday, March 29th. ValuEngine upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $300.00 target price on shares of Adobe in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Adobe has a consensus rating of “Buy” and a consensus target price of $288.70.

Adobe stock opened at $278.48 on Friday. The company has a market capitalization of $134.57 billion, a PE ratio of 50.18, a PEG ratio of 2.69 and a beta of 1.11. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. Adobe Inc has a fifty-two week low of $204.95 and a fifty-two week high of $291.70.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.25). The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Adobe had a return on equity of 30.60% and a net margin of 28.08%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. On average, equities research analysts predict that Adobe Inc will post 6.24 earnings per share for the current fiscal year.

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Adobe 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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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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