Mesirow Financial Investment Management Inc. Sells 1,754 Shares of Adobe Inc. (NASDAQ:ADBE)

Mesirow Financial Investment Management Inc. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,441 shares of the software company’s stock after selling 1,754 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Adobe were worth $15,243,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC increased its stake in Adobe by 23.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 4,102 shares of the software company’s stock worth $2,070,000 after buying an additional 779 shares in the last quarter. NorthRock Partners LLC grew its position in shares of Adobe by 30.6% during the first quarter. NorthRock Partners LLC now owns 4,657 shares of the software company’s stock worth $2,350,000 after purchasing an additional 1,091 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in Adobe by 3.5% during the 1st quarter. Meeder Advisory Services Inc. now owns 6,463 shares of the software company’s stock valued at $3,261,000 after purchasing an additional 220 shares during the period. Verus Capital Partners LLC raised its stake in Adobe by 16.4% during the 1st quarter. Verus Capital Partners LLC now owns 1,310 shares of the software company’s stock valued at $661,000 after purchasing an additional 185 shares during the period. Finally, Donoghue Forlines LLC lifted its holdings in Adobe by 32.2% in the 1st quarter. Donoghue Forlines LLC now owns 4,895 shares of the software company’s stock worth $2,470,000 after purchasing an additional 1,192 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADBE. Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 price objective on shares of Adobe in a research report on Tuesday, October 15th. UBS Group reduced their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Piper Sandler reissued an “overweight” rating and set a $635.00 price objective on shares of Adobe in a report on Friday, September 13th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Finally, Citigroup increased their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Price Performance

ADBE opened at $494.68 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $514.90 and a 200 day moving average of $516.42. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The stock has a market cap of $217.76 billion, a P/E ratio of 41.78, a PEG ratio of 2.60 and a beta of 1.30.

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

Adobe Company 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.