Northwest Bank & Trust Co Has $911,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Northwest Bank & Trust Co lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,760 shares of the software company’s stock after acquiring an additional 35 shares during the period. Northwest Bank & Trust Co’s holdings in Adobe were worth $911,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tradewinds Capital Management LLC increased 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 buying an additional 40 shares during the period. Salomon & Ludwin LLC increased its stake in shares of 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 buying an additional 45 shares during the period. Summit Securities Group LLC acquired a new position in shares of Adobe in the second quarter valued at approximately $33,000. Lynx Investment Advisory acquired a new position in shares of Adobe in the second quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Adobe in the second quarter valued at approximately $39,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE stock traded up $8.73 during trading on Thursday, hitting $502.81. The company had a trading volume of 1,072,221 shares, compared to its average volume of 3,221,677. The firm has a market cap of $222.95 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The firm has a 50-day moving average price of $538.76 and a 200-day moving average price of $515.91. 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 (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s revenue for the quarter 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 expect that Adobe Inc. will post 14.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADBE. Oppenheimer reissued an “outperform” rating and set a $625.00 target price on shares of Adobe in a research report on Friday, September 13th. Stifel Nicolaus increased their target price on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. BMO Capital Markets raised their price objective on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Piper Sandler Companies restated an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research note on Friday, July 12th. Finally, Bank of America reiterated a “buy” rating and set a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Two 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 of the company’s stock, valued at approximately $1,579,186.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was 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 $1,579,186.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott Belsky sold 1,530 shares of the company’s 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 owns 20,359 shares of the company’s stock, valued at approximately $11,405,722.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,759 shares of company stock worth $17,642,653. Company insiders own 0.15% of the company’s stock.

Adobe Company 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.