Bokf Na Has $10.82 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

BOKF NA decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,648 shares of the software company's stock after selling 7,840 shares during the period. BOKF NA's holdings in Adobe were worth $10,817,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Adobe by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock valued at $4,739,788,000 after buying an additional 151,286 shares during the period. Norges Bank acquired a new stake in shares of Adobe in the fourth quarter worth $2,553,035,000. Northern Trust Corp raised its stake in shares of Adobe by 14.5% in the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock valued at $2,363,125,000 after acquiring an additional 672,919 shares during the period. Edgewood Management LLC lifted its holdings in shares of Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock valued at $1,805,009,000 after acquiring an additional 696,172 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Adobe by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company's stock worth $1,249,066,000 after purchasing an additional 92,458 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADBE. KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Robert W. Baird lowered their price objective on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Redburn Atlantic started coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. BMO Capital Markets decreased their target price on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Finally, UBS Group dropped their price target on shares of Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.

Insider Activity

In related news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company's stock.

Adobe Stock Performance

NASDAQ:ADBE traded down $0.71 during midday trading on Friday, reaching $383.28. 2,030,646 shares of the company traded hands, compared to its average volume of 3,438,024. The firm has a market capitalization of $163.35 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a fifty day moving average price of $380.93 and a 200 day moving average price of $437.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company posted $4.48 earnings per share. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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.