Huntington National Bank lifted its position in Adobe Inc (NASDAQ:ADBE) by 1.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 19,732 shares of the software company’s stock after buying an additional 214 shares during the quarter. Huntington National Bank’s holdings in Adobe were worth $5,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Liberty Wealth Management LLC acquired a new position in shares of Adobe during the fourth quarter worth approximately $30,000. Barnett & Company Inc. acquired a new position in shares of Adobe during the fourth quarter worth approximately $32,000. Ruggie Capital Group acquired a new position in shares of Adobe during the fourth quarter worth approximately $33,000. Legacy Advisors LLC acquired a new position in shares of Adobe during the first quarter worth approximately $39,000. Finally, Nalls Sherbakoff Group LLC acquired a new position in shares of Adobe during the fourth quarter worth approximately $34,000. 86.68% of the stock is owned by institutional investors and hedge funds.

ADBE opened at $271.58 on Thursday. The company has a market cap of $131.25 billion, a PE ratio of 48.93, a PEG ratio of 2.63 and a beta of 1.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. Adobe Inc has a 1 year low of $204.95 and a 1 year high of $277.61.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.25). Adobe had a net margin of 28.08% and a return on equity of 30.60%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company earned $1.55 earnings per share. The business’s 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.

A number of research analysts have recently commented on ADBE shares. DZ Bank upgraded Adobe from a “hold” rating to a “buy” rating and set a $260.00 price target for the company in a report on Thursday, December 27th. Morgan Stanley reiterated an “equal weight” rating and set a $255.00 price target on shares of Adobe in a report on Friday, December 14th. KeyCorp cut their price target on Adobe from $286.00 to $282.00 and set an “overweight” rating for the company in a report on Friday, December 14th. Stephens started coverage on Adobe in a report on Wednesday, January 16th. They set an “equal weight” rating and a $278.00 price target for the company. Finally, BidaskClub lowered Adobe from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $285.56.

In other Adobe news, EVP Matthew Thompson sold 41,560 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $245.23, for a total value of $10,191,758.80. Following the sale, the executive vice president now directly owns 63,087 shares in the company, valued at $15,470,825.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Ann Lewnes sold 3,000 shares of the company’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $240.16, for a total value of $720,480.00. Following the completion of the sale, the chief marketing officer now owns 75,368 shares in the company, valued at $18,100,378.88. The disclosure for this sale can be found here. Insiders sold 283,153 shares of company stock worth $70,000,814 over the last quarter. Company insiders own 0.32% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Huntington National Bank Purchases 214 Shares of Adobe Inc (ADBE)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.watchlistnews.com/huntington-national-bank-purchases-214-shares-of-adobe-inc-adbe/2955371.html.

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.

Featured Article: What is dollar cost averaging (DCA)?

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc (NASDAQ:ADBE).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.