Bailard Inc. Reduces Position in Adobe Inc (ADBE)

Bailard Inc. lowered its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,431 shares of the software company’s stock after selling 380 shares during the period. Adobe makes up 0.7% of Bailard Inc.’s investment portfolio, making the stock its 28th largest holding. Bailard Inc.’s holdings in Adobe were worth $11,041,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ADBE. Brookstone Capital Management lifted its stake in shares of Adobe by 4.6% in the fourth quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock worth $210,000 after buying an additional 41 shares in the last quarter. Eagle Global Advisors LLC lifted its stake in shares of Adobe by 1.7% in the first quarter. Eagle Global Advisors LLC now owns 2,522 shares of the software company’s stock worth $672,000 after buying an additional 42 shares in the last quarter. JOYN Advisors Inc. lifted its stake in shares of Adobe by 7.4% in the fourth quarter. JOYN Advisors Inc. now owns 622 shares of the software company’s stock worth $141,000 after buying an additional 43 shares in the last quarter. Ipswich Investment Management Co. Inc. lifted its stake in shares of Adobe by 2.8% in the first quarter. Ipswich Investment Management Co. Inc. now owns 1,640 shares of the software company’s stock worth $437,000 after buying an additional 45 shares in the last quarter. Finally, Townsend & Associates Inc raised its holdings in shares of Adobe by 1.0% during the first quarter. Townsend & Associates Inc now owns 4,767 shares of the software company’s stock valued at $1,270,000 after purchasing an additional 49 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of ADBE stock opened at $281.96 on Friday. Adobe Inc has a 12 month low of $204.95 and a 12 month high of $282.00. The company has a market cap of $135.89 billion, a price-to-earnings ratio of 50.80, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10. 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 (NASDAQ:ADBE) last announced its earnings results on Thursday, March 14th. The software company reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.25). Adobe had a net margin of 28.08% and a return on equity of 30.60%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the company posted $1.55 earnings per share. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, research analysts predict that Adobe Inc will post 6.24 earnings per share for the current year.

Several research firms have recently weighed in on ADBE. BidaskClub raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, January 11th. Zacks Investment Research cut shares of Adobe from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Rosenblatt Securities reissued a “buy” rating and set a $280.00 price objective on shares of Adobe in a report on Friday, March 29th. ValuEngine raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Finally, Credit Suisse Group reissued a “buy” rating and set a $300.00 price objective on shares of Adobe in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $285.56.

In other Adobe news, EVP Matthew Thompson sold 41,560 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $245.23, for a total transaction of $10,191,758.80. Following the completion of the sale, the executive vice president now directly owns 63,087 shares of the company’s stock, valued at $15,470,825.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donna Morris sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $4,125,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,496 shares of company stock valued at $30,887,776. 0.32% of the stock is owned by corporate insiders.

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Adobe Company 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: Conference Calls and Individual Investors

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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