Bokf Na grew its stake in Adobe Inc (NASDAQ:ADBE) by 3.1% during the first quarter, Holdings Channel.com reports. The fund owned 31,973 shares of the software company’s stock after purchasing an additional 972 shares during the quarter. Bokf Na’s holdings in Adobe were worth $10,175,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Stephenson National Bank & Trust purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $25,000. Lion Street Advisors LLC purchased a new position in Adobe during the 1st quarter worth $25,000. Sowa Financial Group Inc. bought a new stake in Adobe during the 4th quarter valued at $26,000. Solstein Capital LLC bought a new stake in Adobe during the 4th quarter valued at $27,000. Finally, Laurel Wealth Advisors LLC lifted its holdings in shares of Adobe by 50.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 96 shares of the software company’s stock worth $31,000 after buying an additional 32 shares during the period. 84.25% of the stock is currently owned by institutional investors and hedge funds.

ADBE has been the subject of several recent research reports. Credit Suisse Group restated a “buy” rating and issued a $370.00 price objective on shares of Adobe in a report on Wednesday, April 1st. Barclays reaffirmed a “buy” rating and issued a $333.00 price target on shares of Adobe in a research report on Sunday, March 15th. JPMorgan Chase & Co. upgraded shares of Adobe from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $322.00 to $325.00 in a research note on Friday, March 13th. Zacks Investment Research raised shares of Adobe from a “sell” rating to a “hold” rating and set a $327.00 price objective for the company in a research note on Wednesday, March 18th. Finally, Oppenheimer upped their target price on Adobe from $375.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $342.54.

In other news, CMO Ann Lewnes sold 5,000 shares of Adobe stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $306.97, for a total value of $1,534,850.00. Following the completion of the sale, the chief marketing officer now directly owns 59,565 shares of the company’s stock, valued at $18,284,668.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Belsky sold 600 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $301.40, for a total value of $180,840.00. Following the completion of the sale, the executive vice president now owns 13,655 shares in the company, valued at approximately $4,115,617. The disclosure for this sale can be found here. In the last three months, insiders sold 17,298 shares of company stock valued at $5,953,576. 0.31% of the stock is owned by insiders.

Shares of NASDAQ ADBE traded down $1.21 during midday trading on Wednesday, reaching $389.23. The company had a trading volume of 129,172 shares, compared to its average volume of 2,631,523. Adobe Inc has a 1 year low of $255.13 and a 1 year high of $391.27. The business’s 50-day simple moving average is $358.75 and its 200 day simple moving average is $337.49. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.39. The stock has a market cap of $187.75 billion, a P/E ratio of 58.94, a P/E/G ratio of 3.04 and a beta of 0.92.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 12th. The software company reported $2.27 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.04. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.05 billion. Adobe had a return on equity of 33.54% and a net margin of 27.72%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 earnings per share. Analysts predict that Adobe Inc will post 8 earnings per share for the current year.

About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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