Rockefeller Capital Management L.P. increased its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 35.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,971 shares of the software company’s stock after buying an additional 7,914 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Adobe were worth $7,987,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Buffington Mohr McNeal purchased a new position in Adobe in the first quarter worth $26,000. Liberty Wealth Management LLC purchased a new position in Adobe in the fourth quarter worth $30,000. Barnett & Company Inc. purchased a new position in Adobe in the fourth quarter worth $32,000. Nalls Sherbakoff Group LLC purchased a new position in Adobe in the fourth quarter worth $34,000. Finally, Canton Hathaway LLC purchased a new position in Adobe in the first quarter worth $35,000. Institutional investors and hedge funds own 85.89% of the company’s stock.

In related news, Director John E. Warnock sold 1,177 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $269.47, for a total transaction of $317,166.19. Following the completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $4,335,233.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Rao sold 5,955 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.08, for a total transaction of $1,519,001.40. Following the sale, the executive vice president now directly owns 17,087 shares of the company’s stock, valued at approximately $4,358,551.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,936 shares of company stock valued at $15,516,808. 0.32% of the stock is owned by corporate insiders.

Shares of ADBE traded down $0.29 during mid-day trading on Wednesday, hitting $275.70. 21,011 shares of the company were exchanged, compared to its average volume of 2,774,896. Adobe Inc has a 1-year low of $204.95 and a 1-year high of $291.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.33. The company has a market cap of $134.65 billion, a PE ratio of 49.74, a price-to-earnings-growth ratio of 2.72 and a beta of 1.11.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.25). Adobe had a return on equity of 30.60% and a net margin of 28.08%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, sell-side analysts expect that Adobe Inc will post 6.24 earnings per share for the current year.

Several equities analysts have issued reports on ADBE shares. Zacks Investment Research lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. BidaskClub lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barclays reissued a “buy” rating and set a $304.00 price objective on shares of Adobe in a report on Monday, March 18th. DZ Bank reissued a “hold” rating on shares of Adobe in a report on Friday, February 22nd. Finally, Canaccord Genuity boosted their price objective on shares of Adobe from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $290.46.

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About Adobe

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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