Adobe Inc. (NASDAQ:ADBE) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,507 shares of the software company’s stock after selling 35 shares during the period. Bath Savings Trust Co’s holdings in Adobe were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ADBE. Westwood Holdings Group Inc. increased its stake in shares of Adobe by 18.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,372 shares of the software company’s stock worth $2,012,000 after purchasing an additional 525 shares in the last quarter. XML Financial LLC purchased a new stake in Adobe in the fourth quarter valued at approximately $224,000. Cresset Asset Management LLC grew its holdings in Adobe by 2.6% in the fourth quarter. Cresset Asset Management LLC now owns 60,145 shares of the software company’s stock valued at $35,883,000 after purchasing an additional 1,500 shares during the period. Nomura Holdings Inc. increased its position in Adobe by 222.4% during the fourth quarter. Nomura Holdings Inc. now owns 13,328 shares of the software company’s stock worth $7,951,000 after purchasing an additional 9,194 shares during the last quarter. Finally, Visionary Wealth Advisors raised its stake in Adobe by 1.0% during the fourth quarter. Visionary Wealth Advisors now owns 1,962 shares of the software company’s stock worth $1,171,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ADBE shares. BMO Capital Markets increased their target price on Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Piper Sandler reissued an “overweight” rating and set a $635.00 target price on shares of Adobe in a research report on Friday, September 13th. Stifel Nicolaus lifted their price target on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. TD Cowen dropped their price objective on shares of Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Finally, KeyCorp lifted their target price on shares of Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 2,797 shares of the company’s stock, valued at $1,579,186.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,759 shares of company stock valued at $17,642,653. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

ADBE opened at $487.30 on Tuesday. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a market capitalization of $216.07 billion, a price-to-earnings ratio of 43.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. The business has a 50 day moving average price of $541.74 and a two-hundred day moving average price of $516.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.16.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.26 EPS. Research analysts predict that Adobe Inc. will post 14.79 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.