Banco Santander S.A. Purchases 4,969 Shares of Adobe Inc (NASDAQ:ADBE)

Banco Santander S.A. boosted its position in shares of Adobe Inc (NASDAQ:ADBE) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,143 shares of the software company’s stock after purchasing an additional 4,969 shares during the period. Banco Santander S.A.’s holdings in Adobe were worth $11,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nicholas Hoffman & Company LLC. boosted its stake in shares of Adobe by 2.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 1,131 shares of the software company’s stock worth $360,000 after buying an additional 29 shares during the last quarter. Coastal Investment Advisors Inc. increased its holdings in shares of Adobe by 4.3% during the fourth quarter. Coastal Investment Advisors Inc. now owns 726 shares of the software company’s stock worth $225,000 after purchasing an additional 30 shares during the period. Philadelphia Trust Co. increased its stake in Adobe by 1.3% in the fourth quarter. Philadelphia Trust Co. now owns 2,300 shares of the software company’s stock valued at $759,000 after acquiring an additional 30 shares during the last quarter. Pettyjohn Wood & White Inc. increased its stake in Adobe by 0.4% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 7,022 shares of the software company’s stock valued at $2,316,000 after acquiring an additional 30 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC increased its stake in Adobe by 3.3% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 967 shares of the software company’s stock valued at $319,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 85.98% of the company’s stock.

ADBE stock traded up $3.09 during midday trading on Friday, hitting $385.26. The stock had a trading volume of 1,627,227 shares, compared to its average volume of 2,763,171. The firm has a market cap of $184.13 billion, a P/E ratio of 58.37, a price-to-earnings-growth ratio of 2.98 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.39. Adobe Inc has a 1-year low of $255.13 and a 1-year high of $386.74. The business has a fifty day moving average price of $342.06 and a two-hundred day moving average price of $332.10.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 12th. The software company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.04. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.05 billion. Adobe had a net margin of 27.72% and a return on equity of 33.54%. Adobe’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 earnings per share. On average, equities analysts anticipate that Adobe Inc will post 8 EPS for the current year.

A number of research analysts recently issued reports on ADBE shares. Royal Bank of Canada decreased their price objective on shares of Adobe from $345.00 to $325.00 in a research note on Friday, March 13th. Citigroup decreased their price objective on shares of Adobe from $329.00 to $293.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. BidaskClub raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Zacks Investment Research raised shares of Adobe from a “sell” rating to a “hold” rating and set a $327.00 price objective on the stock in a research note on Wednesday, March 18th. Finally, Morgan Stanley lifted their price objective on shares of Adobe from $366.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Adobe has an average rating of “Buy” and an average price target of $342.54.

In other Adobe news, CMO Ann Lewnes sold 5,000 shares of Adobe stock in a transaction on Wednesday, April 1st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 600 shares of Adobe stock in a transaction on Monday, March 16th. The shares were sold at an average price of $301.40, for a total transaction of $180,840.00. Following the completion of the sale, the executive vice president now directly owns 13,655 shares of the company’s stock, valued at $4,115,617. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,298 shares of company stock valued at $4,025,976. Insiders own 0.31% of the company’s stock.

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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