Greenfield Savings Bank Has $613,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Greenfield Savings Bank raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,184 shares of the software company’s stock after acquiring an additional 107 shares during the quarter. Greenfield Savings Bank’s holdings in Adobe were worth $613,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Adobe by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after acquiring an additional 382,803 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Adobe by 17.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock valued at $3,857,189,000 after acquiring an additional 1,146,718 shares during the last quarter. Wellington Management Group LLP lifted its stake in Adobe by 1,213.5% in the fourth quarter. Wellington Management Group LLP now owns 2,024,438 shares of the software company’s stock valued at $1,207,780,000 after acquiring an additional 1,870,307 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Adobe by 0.6% in the second quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock valued at $1,097,475,000 after acquiring an additional 12,065 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Adobe by 0.8% in the second quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock valued at $1,097,044,000 after acquiring an additional 15,685 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their price objective on shares of Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Piper Sandler restated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, Sanford C. Bernstein reduced their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Down 3.9 %

Shares of NASDAQ:ADBE opened at $487.30 on Tuesday. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.11. The company’s fifty day moving average is $541.74 and its 200-day moving average is $516.26. The company has a market capitalization of $216.07 billion, a PE ratio of 43.78, a P/E/G ratio of 2.72 and a beta of 1.29.

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

Insider Activity

In other news, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total value of $85,254.60. Following the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,579,186.20. 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 accessible through this link. In related news, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,579,186.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $560.23, for a total transaction of $857,151.90. Following the transaction, the executive vice president now owns 20,359 shares in the company, valued at approximately $11,405,722.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,759 shares of company stock worth $17,642,653. Corporate insiders own 0.15% of the company’s stock.

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.