Bank of New Hampshire Decreases Position in Adobe Inc. (NASDAQ:ADBE)

Bank of New Hampshire decreased its position in Adobe Inc. (NASDAQ:ADBE) by 3.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,463 shares of the software company’s stock after selling 136 shares during the period. Bank of New Hampshire’s holdings in Adobe were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. State Street Corp raised its stake in Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after acquiring an additional 234,909 shares during the period. Geode Capital Management LLC increased its stake in shares of Adobe by 1.4% in the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after purchasing an additional 147,981 shares in the last quarter. FMR LLC raised its position in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Adobe by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after buying an additional 93,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Adobe by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after buying an additional 140,390 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Citigroup reduced their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Sanford C. Bernstein cut their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group decreased their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $582.96.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,293 shares of company stock valued at $1,679,809. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Up 0.9 %

Shares of Adobe stock traded up $3.71 during trading on Tuesday, reaching $434.89. 518,185 shares of the stock were exchanged, compared to its average volume of 3,125,751. Adobe Inc. has a 1 year low of $425.32 and a 1 year high of $638.25. The firm has a market cap of $191.44 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $489.31 and its 200 day moving average is $520.13.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $3.52 EPS. As a group, equities research analysts expect that Adobe Inc. will post 16.73 earnings per share for the current fiscal year.

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.