Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Bank of New Hampshire

Bank of New Hampshire boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 8.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,759 shares of the software company’s stock after purchasing an additional 296 shares during the quarter. Bank of New Hampshire’s holdings in Adobe were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH increased its stake in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares during the last quarter. SWAN Capital LLC acquired a new stake in Adobe during the fourth quarter worth about $28,000. Copia Wealth Management acquired a new stake in Adobe during the fourth quarter worth about $28,000. Summit Securities Group LLC acquired a new stake in Adobe during the fourth quarter worth about $31,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Adobe during the fourth quarter worth about $36,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Adobe Stock Up 0.4%

Shares of Adobe stock opened at $416.92 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The business’s 50 day simple moving average is $381.41 and its 200-day simple moving average is $424.72. The stock has a market capitalization of $177.69 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the prior year, the firm earned $4.48 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADBE. UBS Group lowered their target price on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Morgan Stanley reduced their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Finally, BMO Capital Markets reduced their price target on Adobe from $495.00 to $450.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average target price of $502.88.

Adobe Company 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.