2,167 Shares in Adobe Inc. (NASDAQ:ADBE) Acquired by Tlwm

Tlwm purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,167 shares of the software company’s stock, valued at approximately $1,122,000.

A number of other institutional investors also recently made changes to their positions in ADBE. Tradewinds Capital Management LLC increased its position in Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Adobe by 346.2% during 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 stake in Adobe during the second quarter worth approximately $33,000. Steph & Co. grew its stake in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares during the period. Finally, Lynx Investment Advisory acquired a new position in Adobe in the 2nd quarter valued at $39,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the 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 in the company, valued at $10,740,738.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Adobe news, 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 transaction of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. 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 quarter, insiders sold 33,759 shares of company stock worth $17,642,653. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $487.30 on Tuesday. The company’s fifty day moving average price is $541.74 and its two-hundred day moving average price is $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. The firm has a market capitalization of $216.07 billion, a P/E ratio of 43.78, a P/E/G ratio of 2.72 and a beta of 1.29. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS 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 firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the business posted $3.26 earnings per share. Adobe’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Adobe Inc. will post 14.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research report on Friday, September 13th. Melius Research restated a “hold” rating and issued a $510.00 price target on shares of Adobe in a report on Monday, June 10th. Wells Fargo & Company increased their price objective on shares of Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Piper Sandler Companies reissued an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research report on Friday, July 12th. Finally, Sanford C. Bernstein dropped their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

About Adobe

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.