Kraematon Investment Advisors Inc. Sells 45 Shares of Adobe Inc. (NASDAQ:ADBE)

Kraematon Investment Advisors Inc. lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,532 shares of the software company’s stock after selling 45 shares during the period. Adobe makes up 1.8% of Kraematon Investment Advisors Inc.’s holdings, making the stock its 19th biggest holding. Kraematon Investment Advisors Inc.’s holdings in Adobe were worth $1,738,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC boosted its holdings in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Adobe in the fourth quarter worth about $76,712,000. Strategic Financial Concepts LLC purchased a new position in shares of Adobe in the fourth quarter worth about $24,927,000. Golden State Wealth Management LLC purchased a new position in shares of Adobe in the fourth quarter worth about $229,000. Finally, Platform Technology Partners raised its stake in shares of Adobe by 6.0% in the fourth quarter. Platform Technology Partners now owns 672 shares of the software company’s stock worth $299,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 0.4%

Shares of ADBE stock opened at $416.92 on Friday. The stock has a 50 day moving average of $381.41 and a 200 day moving average of $424.72. 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 stock has a market cap of $177.69 billion, a P/E ratio of 33.62, a P/E/G 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 issued 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. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the company earned $4.48 earnings per share. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents 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 available through this link. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several research analyst reports. Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. Citigroup reduced their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Jefferies Financial Group reduced their price objective on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Bank of America reduced their price objective on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Evercore ISI reduced their price objective on Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $502.88.

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.