Strategic Blueprint LLC Sells 87 Shares of Adobe Inc. (NASDAQ:ADBE)

Strategic Blueprint LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,442 shares of the software company’s stock after selling 87 shares during the period. Strategic Blueprint LLC’s holdings in Adobe were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Piscataqua Savings Bank boosted its stake in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Tradewinds Capital Management LLC lifted its holdings 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 purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC boosted its position in shares of Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after buying an additional 45 shares during the period. Summit Securities Group LLC bought a new position in shares of Adobe during the second quarter worth about $33,000. Finally, Lynx Investment Advisory acquired a new stake in Adobe in the 2nd quarter valued at approximately $39,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Barclays lifted their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Piper Sandler Companies restated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a report on Friday, July 12th. Sanford C. Bernstein reduced their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, Bank of America reaffirmed a “buy” rating and set a $640.00 price target 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 assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $606.40.

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 shares were sold at an average price of $521.58, for a total transaction 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 approximately $186,569,166. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 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 completion of the transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,511 shares of company stock valued at $17,408,530 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Up 0.9 %

ADBE opened at $485.39 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average of $526.85 and a 200-day moving average of $516.01. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The company has a market capitalization of $215.22 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. 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 previous year, the firm posted $3.26 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts expect that Adobe Inc. will post 14.8 EPS 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.