Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Americana Partners LLC

Americana Partners LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,250 shares of the software company’s stock after buying an additional 934 shares during the period. Adobe comprises about 1.4% of Americana Partners LLC’s holdings, making the stock its 16th largest holding. Americana Partners LLC’s holdings in Adobe were worth $20,323,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Piscataqua Savings Bank lifted its holdings in shares of Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the period. Salomon & Ludwin LLC increased its stake in shares of Adobe by 346.2% in 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 last quarter. Summit Securities Group LLC acquired a new stake in Adobe during the second quarter worth about $33,000. Lynx Investment Advisory bought a new stake in Adobe in the second quarter valued at $39,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Adobe during the second quarter valued at $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now owns 18,831 shares in the company, valued at approximately $9,675,744.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Adobe news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares of the company’s stock, valued at $9,675,744.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was 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 34,187 shares of company stock valued at $17,736,369 over the last ninety days. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

Adobe stock traded up $5.21 during midday trading on Friday, reaching $483.29. The company’s stock had a trading volume of 1,254,619 shares, compared to its average volume of 3,168,452. The stock has a market cap of $212.74 billion, a PE ratio of 40.88, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The business has a 50-day moving average price of $523.68 and a 200-day moving average price of $515.55.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. On average, sell-side analysts predict that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADBE. Barclays lifted their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Stifel Nicolaus increased their price target on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Citigroup raised their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.