Fiduciary Financial Group LLC Takes Position in Adobe Inc. (NASDAQ:ADBE)

Fiduciary Financial Group LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 902 shares of the software company’s stock, valued at approximately $448,000.

Several other large investors also recently bought and sold shares of ADBE. Onyx Bridge Wealth Group LLC grew its stake in shares of Adobe by 3.9% during the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after acquiring an additional 19 shares in the last quarter. HTLF Bank raised its position in shares of Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares in the last quarter. Commonwealth Financial Services LLC boosted its stake in shares of Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after buying an additional 19 shares during the last quarter. Orrstown Financial Services Inc. grew its position in shares of Adobe by 0.9% during the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock worth $1,257,000 after buying an additional 20 shares in the last quarter. Finally, Orser Capital Management LLC increased its stake in shares of Adobe by 0.3% in the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,759 shares of company stock worth $17,642,653 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Adobe Trading Down 1.6 %

Shares of ADBE opened at $495.42 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $218.08 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.55 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 business’s 50-day moving average price is $537.29 and its 200 day moving average price is $515.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping 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 analyst estimates of $5.37 billion. During the same quarter in the prior year, the business posted $3.26 EPS. Adobe’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research analyst reports. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Friday, September 13th. Bank of America restated a “buy” rating and set a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. UBS Group lowered their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Finally, Wells Fargo & Company raised their price target on shares of Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.