Enterprise Bank & Trust Co Buys 35 Shares of Adobe Inc. (NASDAQ:ADBE)

Enterprise Bank & Trust Co increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,409 shares of the software company’s stock after acquiring an additional 35 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Adobe were worth $1,247,000 as of its most recent SEC filing.

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

Insider Transactions at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction on Monday, July 15th. The stock was sold at an average price of $560.23, for a total value of $857,151.90. Following the sale, the executive vice president now directly owns 20,359 shares of the company’s stock, valued at $11,405,722.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,759 shares of company stock worth $17,642,653. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research analyst reports. Oppenheimer restated an “outperform” rating and set a $625.00 target price on shares of Adobe in a report on Friday, September 13th. Morgan Stanley restated an “overweight” rating and set a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. Robert W. Baird increased their target price on Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. 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. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Price Performance

NASDAQ:ADBE opened at $494.08 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The stock’s 50 day moving average price is $539.91 and its two-hundred day moving average price is $516.07. The firm has a market capitalization of $219.08 billion, a price-to-earnings ratio of 44.39, a P/E/G ratio of 2.72 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the business earned $3.26 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that Adobe Inc. will post 14.79 earnings per share for the current 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.