FineMark National Bank & Trust Has $14.84 Million Holdings in Adobe Inc (ADBE)

FineMark National Bank & Trust raised its stake in shares of Adobe Inc (NASDAQ:ADBE) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,613 shares of the software company’s stock after acquiring an additional 858 shares during the quarter. Adobe makes up 1.0% of FineMark National Bank & Trust’s portfolio, making the stock its 15th largest holding. FineMark National Bank & Trust’s holdings in Adobe were worth $14,844,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Corient Capital Partners LLC raised its holdings in shares of Adobe by 15.7% in the fourth quarter. Corient Capital Partners LLC now owns 13,985 shares of the software company’s stock valued at $3,164,000 after buying an additional 1,893 shares during the last quarter. Parkwood LLC bought a new position in shares of Adobe in the fourth quarter valued at about $321,000. Stanley Laman Group Ltd. bought a new position in shares of Adobe in the fourth quarter valued at about $5,293,000. Whittier Trust Co. increased its position in Adobe by 5.0% in the fourth quarter. Whittier Trust Co. now owns 3,569 shares of the software company’s stock worth $808,000 after purchasing an additional 171 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Adobe by 7.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 170,883 shares of the software company’s stock worth $38,661,000 after purchasing an additional 11,776 shares during the period. 83.74% of the stock is owned by institutional investors.

Get Adobe alerts:

Adobe stock opened at $257.76 on Friday. The stock has a market cap of $125.88 billion, a PE ratio of 46.25, a P/E/G ratio of 2.53 and a beta of 1.15. Adobe Inc has a 1 year low of $201.68 and a 1 year high of $277.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 1.13.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, December 13th. The software company reported $1.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.88 by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.43 billion. Adobe had a return on equity of 31.19% and a net margin of 28.69%. Adobe’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Equities analysts forecast that Adobe Inc will post 6.21 EPS for the current year.

In related news, EVP Ann Lewnes sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $258.13, for a total value of $774,390.00. Following the completion of the transaction, the executive vice president now directly owns 72,368 shares in the company, valued at approximately $18,680,351.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley Rencher sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $246.46, for a total value of $7,393,800.00. Following the completion of the transaction, the executive vice president now owns 42,340 shares of the company’s stock, valued at $10,435,116.40. The disclosure for this sale can be found here. Insiders have sold a total of 282,344 shares of company stock valued at $69,007,648 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

A number of analysts recently commented on ADBE shares. Nomura started coverage on Adobe in a research report on Thursday, November 15th. They issued a “buy” rating and a $315.00 price objective for the company. ValuEngine lowered Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Zacks Investment Research lowered Adobe from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Citigroup lowered their price objective on Adobe from $309.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, December 10th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Adobe in a research report on Monday, December 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $284.44.

WARNING: “FineMark National Bank & Trust Has $14.84 Million Holdings in Adobe Inc (ADBE)” was first reported by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.tickerreport.com/banking-finance/4170530/finemark-national-bank-trust-has-14-84-million-holdings-in-adobe-inc-adbe.html.

Adobe 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.

Further Reading: Quiet Period Expirations

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).