Bank of New Hampshire Sells 136 Shares of Adobe Inc. (NASDAQ:ADBE)

Bank of New Hampshire decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,463 shares of the software company’s stock after selling 136 shares during the period. Bank of New Hampshire’s holdings in Adobe were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Doliver Advisors LP boosted its holdings in shares of Adobe by 12.4% in the 4th quarter. Doliver Advisors LP now owns 3,136 shares of the software company’s stock valued at $1,395,000 after purchasing an additional 345 shares in the last quarter. Pensionfund Sabic bought a new position in Adobe in the fourth quarter valued at about $2,668,000. Nordea Investment Management AB grew its position in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after acquiring an additional 33,414 shares during the last quarter. Versant Capital Management Inc raised its stake in Adobe by 7.3% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the software company’s stock worth $184,000 after acquiring an additional 28 shares in the last quarter. Finally, Old Port Advisors lifted its holdings in shares of Adobe by 5.2% in the fourth quarter. Old Port Advisors now owns 867 shares of the software company’s stock worth $386,000 after acquiring an additional 43 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research analyst reports. Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 target price on shares of Adobe in a report on Friday, September 13th. Royal Bank of Canada cut their price target on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Mizuho lowered their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Oppenheimer cut their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $582.96.

Adobe Stock Up 0.9 %

Shares of ADBE traded up $3.71 during trading hours on Tuesday, hitting $434.89. The stock had a trading volume of 518,185 shares, compared to its average volume of 3,125,751. Adobe Inc. has a 1-year low of $425.32 and a 1-year high of $638.25. The firm has a market capitalization of $191.44 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The firm has a 50 day simple moving average of $489.31 and a 200-day simple moving average of $520.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

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

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,293 shares of company stock worth $1,679,809. Insiders own 0.15% of the company’s stock.

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.