Adobe Inc. (NASDAQ:ADBE) Shares Sold by Bensler LLC

Bensler LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,417 shares of the software company’s stock after selling 171 shares during the quarter. Bensler LLC’s holdings in Adobe were worth $2,805,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADBE. GAMMA Investing LLC lifted its position in Adobe by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after acquiring an additional 1,412 shares during the period. Crestwood Advisors Group LLC boosted its position in Adobe by 1.0% in the third quarter. Crestwood Advisors Group LLC now owns 149,968 shares of the software company’s stock valued at $77,650,000 after buying an additional 1,464 shares during the last quarter. Anchor Investment Management LLC increased its holdings in Adobe by 9.8% in the 2nd quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock worth $8,892,000 after buying an additional 1,430 shares during the period. Fairscale Capital LLC purchased a new position in Adobe during the 2nd quarter worth approximately $1,318,000. Finally, Daymark Wealth Partners LLC lifted its stake in Adobe by 89.8% during the 2nd quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock valued at $5,065,000 after acquiring an additional 4,315 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE opened at $500.92 on Friday. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The firm has a market capitalization of $220.50 billion, a PE ratio of 42.31, a PEG ratio of 2.48 and a beta of 1.30. 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 firm’s 50-day moving average price is $517.87 and its 200 day moving average price is $516.33.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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 return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business earned $3.26 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the topic of a number of research reports. Piper Sandler Companies reiterated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research note on Friday, July 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a report on Tuesday, October 15th. Argus upgraded Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Barclays increased their price target on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Bank of America restated a “buy” rating and set a $640.00 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 assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Shantanu Narayen sold 25,000 shares of Adobe 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 sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The trade was 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 link. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, 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 a total of 34,187 shares of company stock worth $17,736,369 in the last three months. 0.15% of the stock is owned by corporate insiders.

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.