Roman Butler Fullerton & Co. Sells 306 Shares of Adobe Inc. (NASDAQ:ADBE)

Roman Butler Fullerton & Co. trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,585 shares of the software company’s stock after selling 306 shares during the period. Adobe comprises 1.1% of Roman Butler Fullerton & Co.’s investment portfolio, making the stock its 23rd biggest position. Roman Butler Fullerton & Co.’s holdings in Adobe were worth $2,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. VELA Investment Management LLC boosted its stake in Adobe by 122.2% in the first quarter. VELA Investment Management LLC now owns 1,958 shares of the software company’s stock valued at $892,000 after acquiring an additional 1,077 shares during the last quarter. Bornite Capital Management LP purchased a new position in Adobe in the first quarter valued at about $15,947,000. United Bank boosted its stake in Adobe by 34.7% in the first quarter. United Bank now owns 2,109 shares of the software company’s stock valued at $961,000 after acquiring an additional 543 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Adobe by 21.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 525,897 shares of the software company’s stock valued at $239,609,000 after acquiring an additional 91,328 shares during the last quarter. Finally, Ergoteles LLC boosted its stake in Adobe by 138.3% in the first quarter. Ergoteles LLC now owns 6,651 shares of the software company’s stock valued at $3,030,000 after acquiring an additional 3,860 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 2,191 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $601.71, for a total value of $1,318,346.61. Following the transaction, the executive vice president now owns 23,508 shares in the company, valued at $14,144,998.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $601.71, for a total transaction of $1,318,346.61. Following the sale, the executive vice president now owns 23,508 shares of the company’s stock, valued at approximately $14,144,998.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the sale, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,075 shares of company stock worth $1,848,418. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Down 0.1 %

NASDAQ:ADBE traded down $0.50 during trading hours on Thursday, reaching $473.95. The company’s stock had a trading volume of 339,628 shares, compared to its average volume of 3,546,688. The firm has a market capitalization of $212.33 billion, a price-to-earnings ratio of 45.36, a PEG ratio of 2.58 and a beta of 1.28. The firm has a 50-day simple moving average of $533.19 and a 200-day simple moving average of $566.97. Adobe Inc. has a 1 year low of $331.89 and a 1 year high of $638.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the company earned $2.97 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. Research analysts expect that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe announced that its board has approved a stock repurchase program on Thursday, March 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADBE. JPMorgan Chase & Co. dropped their price target on shares of Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. TD Cowen dropped their price target on shares of Adobe from $650.00 to $640.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Robert W. Baird dropped their price target on shares of Adobe from $590.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, March 28th. Finally, UBS Group lowered their target price on shares of Adobe from $600.00 to $540.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Company 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.