Perkins Coie Trust Co Makes New $54,000 Investment in Adobe Inc. (NASDAQ:ADBE)

Perkins Coie Trust Co acquired a new position in Adobe Inc. (NASDAQ:ADBE) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 140 shares of the software company’s stock, valued at approximately $54,000.

A number of other institutional investors have also recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH lifted its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after buying an additional 39,888 shares in the last quarter. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter valued at about $28,000. Copia Wealth Management bought a new position in shares of Adobe during the fourth quarter worth about $28,000. Summit Securities Group LLC acquired a new position in Adobe in the fourth quarter worth about $31,000. Finally, Caitlin John LLC increased its holdings in Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets lowered 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. UBS Group dropped their target price on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $480.00 price target on shares of Adobe in a report on Thursday. Bank of America lowered their price objective on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus target price of $502.88.

Adobe Trading Up 0.4%

Shares of NASDAQ:ADBE opened at $416.92 on Friday. The company has a 50 day moving average of $381.41 and a 200-day moving average of $425.24. The firm 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. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last issued 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 company 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 period in the prior year, the business posted $4.48 EPS. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.