Sunflower Bank N.A. Purchases 134 Shares of Adobe Inc. (NASDAQ:ADBE)

Sunflower Bank N.A. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 15.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,024 shares of the software company’s stock after acquiring an additional 134 shares during the period. Sunflower Bank N.A.’s holdings in Adobe were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elevated Capital Advisors LLC increased its position in shares of Adobe by 19.8% during the fourth quarter. Elevated Capital Advisors LLC now owns 3,098 shares of the software company’s stock worth $1,378,000 after acquiring an additional 511 shares in the last quarter. Bar Harbor Wealth Management boosted its stake in Adobe by 4.1% in the 4th quarter. Bar Harbor Wealth Management now owns 10,470 shares of the software company’s stock worth $4,656,000 after purchasing an additional 415 shares during the period. Marshall & Sullivan Inc. WA increased its holdings in Adobe by 1.1% during the 4th quarter. Marshall & Sullivan Inc. WA now owns 11,512 shares of the software company’s stock worth $5,119,000 after purchasing an additional 120 shares in the last quarter. Claro Advisors LLC raised its stake in shares of Adobe by 2.9% in the 4th quarter. Claro Advisors LLC now owns 1,364 shares of the software company’s stock valued at $607,000 after purchasing an additional 38 shares during the period. Finally, Fulcrum Capital LLC lifted its holdings in shares of Adobe by 2.9% in the fourth quarter. Fulcrum Capital LLC now owns 25,433 shares of the software company’s stock valued at $11,310,000 after purchasing an additional 723 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of Adobe stock traded up $2.58 during trading on Monday, reaching $408.50. The company’s stock had a trading volume of 4,312,571 shares, compared to its average volume of 4,240,533. 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 business’s 50-day moving average price is $484.01 and its 200-day moving average price is $517.00. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The firm has a market cap of $179.82 billion, a PE ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the firm posted $3.52 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 16.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research reports. Oppenheimer decreased their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Mizuho decreased their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. UBS Group decreased their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Bank of America lowered their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $575.85.

Insider Buying and Selling

In other news, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,293 shares of company stock valued at $1,679,809 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

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.