Umpqua Bank Acquires 152 Shares of Adobe Inc. (NASDAQ:ADBE)

Umpqua Bank boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,218 shares of the software company’s stock after buying an additional 152 shares during the quarter. Umpqua Bank’s holdings in Adobe were worth $1,328,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ADBE. Legacy Investment Solutions LLC bought a new position in Adobe in the 3rd quarter valued at approximately $26,000. Groupama Asset Managment raised its holdings in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the last quarter. True Wealth Design LLC raised its holdings in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in Adobe in the 4th quarter valued at approximately $31,000. Finally, Caitlin John LLC raised its holdings in Adobe by 171.4% in the 4th 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 own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent analyst reports. Evercore ISI decreased their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday. Bank of America decreased their target price 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. Wells Fargo & Company decreased their target price on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Citigroup decreased their target price on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $538.80.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel Durn bought 1,300 shares of the stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $387.26 on Friday. 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 stock’s fifty day simple moving average is $434.16 and its two-hundred day simple moving average is $476.46. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The stock has a market cap of $168.62 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the business earned $4.48 EPS. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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.