First Foundation Advisors Buys 1,200 Shares of Adobe Inc. (NASDAQ:ADBE)

First Foundation Advisors lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,448 shares of the software company’s stock after buying an additional 1,200 shares during the period. First Foundation Advisors’ holdings in Adobe were worth $5,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Groupama Asset Managment raised its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. Financial Avengers Inc. raised its position in Adobe by 6.2% during the third quarter. Financial Avengers Inc. now owns 5,679 shares of the software company’s stock valued at $2,940,000 after purchasing an additional 330 shares in the last quarter. Soltis Investment Advisors LLC raised its position in Adobe by 1,189.7% during the third quarter. Soltis Investment Advisors LLC now owns 10,253 shares of the software company’s stock valued at $5,309,000 after purchasing an additional 9,458 shares in the last quarter. Hohimer Wealth Management LLC raised its position in Adobe by 2.9% during the third quarter. Hohimer Wealth Management LLC now owns 2,244 shares of the software company’s stock valued at $1,162,000 after purchasing an additional 64 shares in the last quarter. Finally, M&T Bank Corp raised its position in Adobe by 3.9% during the third quarter. M&T Bank Corp now owns 156,198 shares of the software company’s stock valued at $80,876,000 after purchasing an additional 5,905 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 1.3 %

NASDAQ:ADBE opened at $360.00 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $153.43 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The firm has a 50-day moving average price of $416.53 and a two-hundred day moving average price of $458.06.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the business posted $4.48 EPS. On average, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Bank of America lowered their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday, February 19th. They set a “neutral” rating for the company. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. Finally, Citigroup decreased their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $531.54.

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.