Adobe Inc. (NASDAQ:ADBE) Position Increased by Realta Investment Advisors

Realta Investment Advisors lifted its position in Adobe Inc. (NASDAQ:ADBE) by 142.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,112 shares of the software company’s stock after acquiring an additional 653 shares during the period. Realta Investment Advisors’ holdings in Adobe were worth $567,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ADBE. GAMMA Investing LLC raised its position in Adobe by 28.0% during the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after buying an additional 1,412 shares during the period. Anchor Investment Management LLC increased its holdings in shares of Adobe by 9.8% in the 2nd quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock valued at $8,892,000 after purchasing an additional 1,430 shares during the period. Choreo LLC lifted its position in shares of Adobe by 4.7% in the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock worth $2,236,000 after purchasing an additional 197 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Adobe during the second quarter worth approximately $1,318,000. Finally, Daymark Wealth Partners LLC grew its position in Adobe by 89.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock valued at $5,065,000 after purchasing an additional 4,315 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’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 sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s 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 sale, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock worth $17,736,369 in the last quarter. 0.15% of the stock is owned by corporate insiders.

Adobe Price Performance

ADBE traded up $4.72 during midday trading on Friday, reaching $482.80. 2,852,008 shares of the company’s stock were exchanged, compared to its average volume of 3,176,052. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The firm has a market capitalization of $212.53 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29. The business has a 50-day simple moving average of $522.17 and a two-hundred day simple moving average of $515.64. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm earned $3.26 EPS. Adobe’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts predict that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADBE. Bank of America reissued a “buy” rating and set a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Piper Sandler Companies restated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. Citigroup upped their price objective on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research report 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 issued a strong buy rating to the company. According to data from MarketBeat, the company 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.