Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. boosted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 25.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,373 shares of the software company's stock after acquiring an additional 1,490 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Adobe were worth $2,828,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Siemens Fonds Invest GmbH boosted its position in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the period. SWAN Capital LLC purchased a new stake in Adobe in the fourth quarter valued at approximately $28,000. Copia Wealth Management purchased a new stake in Adobe in the fourth quarter valued at approximately $28,000. Summit Securities Group LLC acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

ADBE stock traded down $13.63 during trading on Wednesday, reaching $378.47. 6,906,864 shares of the company were exchanged, compared to its average volume of 3,425,546. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The stock's 50 day moving average price is $395.48 and its 200 day moving average price is $409.36. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a market cap of $160.55 billion, a P/E ratio of 24.21, a PEG ratio of 1.86 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the company earned $4.48 EPS. The company's quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ADBE shares. Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 target price on shares of Adobe in a report on Friday, June 13th. Bank of America raised their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Rothschild & Co Redburn downgraded shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a research note on Wednesday. Finally, Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $480.08.

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.