First Hawaiian Bank Has $1.22 Million Stake in Adobe Inc. (NASDAQ:ADBE)

First Hawaiian Bank reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 18.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,741 shares of the software company’s stock after selling 614 shares during the quarter. First Hawaiian Bank’s holdings in Adobe were worth $1,219,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Quest Partners LLC grew its stake in Adobe by 23.3% in the second quarter. Quest Partners LLC now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 111 shares in the last quarter. LPL Financial LLC grew its stake in shares of Adobe by 2.6% in the 2nd quarter. LPL Financial LLC now owns 425,440 shares of the software company’s stock valued at $236,349,000 after buying an additional 10,613 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Adobe by 7.5% in the 2nd quarter. American Century Companies Inc. now owns 382,397 shares of the software company’s stock valued at $212,437,000 after buying an additional 26,619 shares in the last quarter. Achmea Investment Management B.V. increased its holdings in Adobe by 5.2% in the second quarter. Achmea Investment Management B.V. now owns 62,815 shares of the software company’s stock worth $34,896,000 after buying an additional 3,115 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in Adobe by 12.0% during the second quarter. Johnson Investment Counsel Inc. now owns 144,261 shares of the software company’s stock valued at $80,143,000 after acquiring an additional 15,459 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of Adobe stock opened at $419.58 on Friday. The firm has a market cap of $184.70 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The firm’s 50-day simple moving average is $485.54 and its 200-day simple moving average is $517.97. Adobe Inc. has a twelve month low of $415.51 and a twelve month 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 released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the business earned $3.52 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Argus raised shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Mizuho decreased their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Citigroup cut their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Sanford C. Bernstein decreased their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $575.85.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at $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. Insiders sold 3,293 shares of company stock worth $1,679,809 over the last three months. 0.15% of the stock is currently owned by corporate 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.