First National Bank of Omaha Decreases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

First National Bank of Omaha lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,758 shares of the software company’s stock after selling 964 shares during the quarter. First National Bank of Omaha’s holdings in Adobe were worth $5,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Piscataqua Savings Bank lifted its holdings in shares of Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Adobe during the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC boosted its holdings in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of Adobe during the 2nd quarter valued at approximately $33,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE opened at $552.96 on Friday. The stock has a market capitalization of $243.41 billion, a PE ratio of 46.70, a PEG ratio of 2.45 and a beta of 1.29. The company has a 50 day moving average price of $504.20 and a 200-day moving average price of $521.94. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company earned $3.26 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADBE. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Bank of America reiterated a “buy” rating and set a $640.00 price target on shares of Adobe in a report on Friday, September 13th. BMO Capital Markets raised their price objective on shares of Adobe from $580.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $610.00 target price on shares of Adobe in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $602.08.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,187 shares of company stock valued at $17,736,369. Corporate insiders own 0.15% of the company’s stock.

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.