Raymond James Trust N.A. trimmed its position in Adobe Inc (NASDAQ:ADBE) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,396 shares of the software company’s stock after selling 73 shares during the period. Raymond James Trust N.A.’s holdings in Adobe were worth $1,885,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Carderock Capital Management Inc. boosted its holdings in shares of Adobe by 133.8% in the first quarter. Carderock Capital Management Inc. now owns 11,479 shares of the software company’s stock worth $3,059,000 after buying an additional 6,569 shares during the period. Glaxis Capital Management LLC acquired a new position in shares of Adobe in the first quarter worth about $1,892,000. Retirement Systems of Alabama boosted its holdings in shares of Adobe by 0.6% in the first quarter. Retirement Systems of Alabama now owns 227,106 shares of the software company’s stock worth $60,521,000 after buying an additional 1,294 shares during the period. Sawtooth Solutions LLC lifted its position in shares of Adobe by 41.6% in the first quarter. Sawtooth Solutions LLC now owns 5,957 shares of the software company’s stock worth $1,587,000 after purchasing an additional 1,751 shares in the last quarter. Finally, Carillon Tower Advisers Inc. lifted its position in shares of Adobe by 19.3% in the first quarter. Carillon Tower Advisers Inc. now owns 46,400 shares of the software company’s stock worth $12,365,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors own 86.28% of the company’s stock.

In other news, Director Charles M. Geschke sold 13,795 shares of Adobe stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $289.96, for a total value of $3,999,998.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John E. Warnock sold 4,000 shares of Adobe stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $296.94, for a total transaction of $1,187,760.00. Following the completion of the transaction, the director now directly owns 16,088 shares in the company, valued at approximately $4,777,170.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,795 shares of company stock worth $10,679,608. Insiders own 0.32% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. KeyCorp set a $20.00 price target on shares of Brixmor Property Group and gave the stock a “buy” rating in a research report on Wednesday, June 19th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 280 ($3.66) price target on shares of in a research report on Wednesday, June 19th. BidaskClub lowered shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. Finally, Barclays reissued a “top pick” rating and issued a GBX 3,250 ($42.47) price target on shares of in a research report on Wednesday, June 19th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $300.70.

Shares of ADBE opened at $311.27 on Friday. The company has a market capitalization of $151.10 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 2.80 and a beta of 1.10. The company’s 50 day simple moving average is $296.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.70. Adobe Inc has a twelve month low of $204.95 and a twelve month high of $313.11.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, June 18th. The software company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. Adobe had a net margin of 26.25% and a return on equity of 29.96%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.66 earnings per share. As a group, research analysts expect that Adobe Inc will post 6.3 EPS for the current year.

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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