Bremer Bank National Association Has $957,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Bremer Bank National Association cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,722 shares of the software company’s stock after selling 43 shares during the period. Bremer Bank National Association’s holdings in Adobe were worth $957,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tradewinds Capital Management LLC grew its stake in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Adobe in the 4th quarter valued at $35,000. Steph & Co. boosted its holdings in Adobe by 63.8% in the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in Adobe during the second quarter worth $39,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ADBE shares. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, June 14th. StockNews.com lowered Adobe from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Mizuho restated a “buy” rating and set a $640.00 target price (down previously from $680.00) on shares of Adobe in a research note on Friday, June 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Adobe in a research report on Thursday, August 1st. Finally, BMO Capital Markets increased their price objective on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $601.38.

Adobe Price Performance

Shares of Adobe stock traded up $4.57 during midday trading on Wednesday, reaching $539.79. The company had a trading volume of 1,915,323 shares, compared to its average volume of 3,323,331. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $531.91 and a 200 day simple moving average of $523.87. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a market capitalization of $239.34 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 2.85 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $3.04 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 14.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,501,989. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,501,989. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 264 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $525.51, for a total transaction of $138,734.64. Following the transaction, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The disclosure for this sale can be found here. In the last three months, insiders sold 27,523 shares of company stock valued at $14,994,277. 0.15% of the stock is currently owned by insiders.

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.