Cwm LLC Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Cwm LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 7.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,449 shares of the software company’s stock after buying an additional 3,097 shares during the period. Cwm LLC’s holdings in Adobe were worth $21,979,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ADBE. Daymark Wealth Partners LLC boosted its holdings in Adobe by 0.3% in the third quarter. Daymark Wealth Partners LLC now owns 9,142 shares of the software company’s stock valued at $4,734,000 after acquiring an additional 24 shares during the last quarter. Peddock Capital Advisors LLC lifted its stake in shares of Adobe by 20.6% in the 3rd quarter. Peddock Capital Advisors LLC now owns 913 shares of the software company’s stock valued at $473,000 after purchasing an additional 156 shares in the last quarter. Barlow Wealth Partners Inc. lifted its stake in shares of Adobe by 2.3% in the 3rd quarter. Barlow Wealth Partners Inc. now owns 43,536 shares of the software company’s stock valued at $21,215,000 after purchasing an additional 971 shares in the last quarter. Royal Fund Management LLC grew its holdings in shares of Adobe by 2.9% during the 3rd quarter. Royal Fund Management LLC now owns 5,480 shares of the software company’s stock worth $2,837,000 after purchasing an additional 156 shares during the period. Finally, Sage Capital Advisors llc increased its position in Adobe by 0.4% during the 3rd quarter. Sage Capital Advisors llc now owns 5,808 shares of the software company’s stock worth $3,007,000 after purchasing an additional 24 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,759 shares of company stock worth $17,642,653 in the last ninety days. 0.15% of the stock is owned by insiders.

Adobe Stock Up 1.9 %

ADBE stock opened at $503.57 on Friday. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The firm has a fifty day moving average price of $538.76 and a two-hundred day moving average price of $515.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.16. The firm has a market cap of $223.28 billion, a price-to-earnings ratio of 45.24, a PEG ratio of 2.72 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.26 EPS. Research analysts predict that Adobe Inc. will post 14.79 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Argus raised shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Piper Sandler Companies reissued an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research report on Friday, July 12th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Sanford C. Bernstein dropped their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $606.40.

About Adobe

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.