Bank of New Hampshire Sells 53 Shares of Adobe Inc. (NASDAQ:ADBE)

Bank of New Hampshire lowered its position in Adobe Inc. (NASDAQ:ADBE) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,772 shares of the software company’s stock after selling 53 shares during the quarter. Bank of New Hampshire’s holdings in Adobe were worth $2,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the company. One Charles Private Wealth Services LLC grew its holdings in Adobe by 2.2% in the 3rd quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock worth $400,000 after acquiring an additional 17 shares during the last quarter. Invst LLC increased its holdings in shares of Adobe by 1.9% during the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after purchasing an additional 17 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Adobe by 3.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after acquiring an additional 17 shares during the last quarter. Lantz Financial LLC raised its holdings in Adobe by 2.5% in the fourth quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock valued at $411,000 after acquiring an additional 17 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management grew its position in Adobe by 4.3% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after buying an additional 17 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $660.00 target price on shares of Adobe in a report on Wednesday, March 27th. Evercore ISI reiterated an “outperform” rating and set a $650.00 target price on shares of Adobe in a report on Wednesday, March 27th. TheStreet cut shares of Adobe from a “b-” rating to a “c+” rating in a research note on Tuesday, March 19th. Mizuho restated a “buy” rating and set a $680.00 price target on shares of Adobe in a research note on Wednesday, March 27th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $620.72.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $468.41, for a total transaction of $45,435.77. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $468.41, for a total value of $45,435.77. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at $1,933,596.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil Chakravarthy sold 100 shares of Adobe stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now directly owns 33,609 shares in the company, valued at $15,829,839. The disclosure for this sale can be found here. Insiders have sold 293 shares of company stock valued at $137,656 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.1 %

Shares of NASDAQ ADBE traded up $5.44 during trading on Friday, reaching $478.88. The stock had a trading volume of 1,223,032 shares, compared to its average volume of 3,482,380. The company has a market cap of $214.54 billion, a P/E ratio of 46.08, a PEG ratio of 2.58 and a beta of 1.28. The business’s 50-day moving average price is $516.72 and its 200-day moving average price is $564.69. Adobe Inc. has a fifty-two week low of $331.89 and a fifty-two week high of $638.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.38 by $0.10. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $2.97 earnings per share. On average, equities research analysts predict that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe declared that its board has authorized a stock buyback plan on Thursday, March 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to repurchase up to 10.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.