Adobe Inc. (NASDAQ:ADBE) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,673 shares of the software company’s stock after selling 174 shares during the period. Adobe comprises 0.8% of Ameritas Investment Partners Inc.’s investment portfolio, making the stock its 22nd biggest position. Ameritas Investment Partners Inc.’s holdings in Adobe were worth $13,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC boosted its stake in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Salomon & Ludwin LLC lifted its holdings in Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after buying an additional 45 shares in the last quarter. Summit Securities Group LLC purchased a new position in Adobe in the 2nd quarter valued at approximately $33,000. Steph & Co. grew its stake in shares of Adobe by 63.8% in the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Adobe in the second quarter worth $39,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Down 0.8 %

Shares of Adobe stock opened at $522.30 on Friday. The company has a market cap of $231.59 billion, a P/E ratio of 46.93, a PEG ratio of 3.03 and a beta of 1.29. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The firm has a fifty day moving average of $549.18 and a two-hundred day moving average of $518.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.26 EPS. On average, analysts forecast that Adobe Inc. will post 14.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ADBE shares. Bank of America reiterated a “buy” rating and issued a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. Piper Sandler reaffirmed an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday, September 13th. Evercore ISI reiterated an “outperform” rating and issued a $650.00 price objective on shares of Adobe in a report on Friday, June 7th. Oppenheimer restated an “outperform” rating and set a $625.00 target price on shares of Adobe in a research note on Friday, September 13th. Finally, Stifel Nicolaus increased their price target on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,579,186.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,759 shares of company stock valued at $18,205,903. 0.15% of the stock is owned by company insiders.

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.