OLD Second National Bank of Aurora Lowers Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

OLD Second National Bank of Aurora reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,973 shares of the software company’s stock after selling 41 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Adobe were worth $1,767,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Regal Investment Advisors LLC boosted its position in Adobe by 2.6% during the second quarter. Regal Investment Advisors LLC now owns 1,382 shares of the software company’s stock worth $768,000 after purchasing an additional 35 shares in the last quarter. Advisory Alpha LLC purchased a new stake in Adobe during the second quarter worth $224,000. Strategic Investment Solutions Inc. IL purchased a new stake in Adobe during the second quarter worth $43,000. Coronation Fund Managers Ltd. boosted its position in Adobe by 124.2% during the second quarter. Coronation Fund Managers Ltd. now owns 4,551 shares of the software company’s stock worth $2,528,000 after purchasing an additional 2,521 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Adobe during the second quarter worth $35,655,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADBE shares. Sanford C. Bernstein decreased their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. Stifel Nicolaus cut their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, Bank of America cut their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 over the last quarter. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $441.68 on Thursday. The stock has a 50-day moving average price of $465.79 and a two-hundred day moving average price of $505.60. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. 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 company has a market cap of $192.26 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS for the current 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.