Johanson Financial Advisors Inc. increased its position in shares of Adobe Inc (NASDAQ:ADBE) by 9.2% during the first quarter, HoldingsChannel.com reports. The fund owned 2,515 shares of the software company’s stock after acquiring an additional 212 shares during the period. Johanson Financial Advisors Inc.’s holdings in Adobe were worth $670,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Enlightenment Research LLC bought a new stake in Adobe during the 1st quarter worth approximately $213,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in Adobe by 1.4% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,639 shares of the software company’s stock worth $2,035,000 after acquiring an additional 108 shares during the period. Kovack Advisors Inc. increased its holdings in Adobe by 22.9% during the 1st quarter. Kovack Advisors Inc. now owns 3,919 shares of the software company’s stock worth $1,044,000 after acquiring an additional 730 shares during the period. Goelzer Investment Management Inc. increased its holdings in Adobe by 4.9% during the 1st quarter. Goelzer Investment Management Inc. now owns 9,522 shares of the software company’s stock worth $2,538,000 after acquiring an additional 448 shares during the period. Finally, Stephens Inc. AR increased its holdings in Adobe by 11.5% during the 1st quarter. Stephens Inc. AR now owns 48,562 shares of the software company’s stock worth $12,941,000 after acquiring an additional 5,003 shares during the period. 86.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ ADBE opened at $279.85 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.97 and a quick ratio of 0.97. Adobe Inc has a 12 month low of $204.95 and a 12 month high of $291.70. The firm has a market capitalization of $136.55 billion, a price-to-earnings ratio of 50.42, a P/E/G ratio of 2.73 and a beta of 1.11.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.25). Adobe had a return on equity of 30.60% and a net margin of 28.08%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company posted $1.55 earnings per share. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. Equities research analysts expect that Adobe Inc will post 6.24 EPS for the current year.

A number of analysts recently weighed in on ADBE shares. BidaskClub lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Rosenblatt Securities reissued a “buy” rating and issued a $280.00 price target on shares of Adobe in a research note on Friday, March 29th. Canaccord Genuity boosted their price target on shares of Adobe from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. DZ Bank reissued a “hold” rating on shares of Adobe in a research note on Friday, February 22nd. Finally, Credit Suisse Group reissued a “buy” rating and issued a $300.00 price target on shares of Adobe in a research note on Friday, January 25th. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Adobe presently has an average rating of “Buy” and a consensus price target of $289.63.

In related news, EVP Dana Rao sold 5,955 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.08, for a total value of $1,519,001.40. Following the completion of the transaction, the executive vice president now directly owns 17,087 shares in the company, valued at approximately $4,358,551.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Ann Lewnes sold 3,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $260.54, for a total transaction of $781,620.00. Following the completion of the transaction, the chief marketing officer now owns 69,368 shares of the company’s stock, valued at $18,073,138.72. The disclosure for this sale can be found here. Insiders sold a total of 59,936 shares of company stock valued at $16,291,198 over the last 90 days. Company insiders own 0.32% of the company’s stock.

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Adobe Profile

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.

Further Reading: How are institutional investors different from individual investors?

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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