Forum Financial Management LP Acquires 31 Shares of Adobe Inc. (NASDAQ:ADBE)

Forum Financial Management LP increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,835 shares of the software company’s stock after purchasing an additional 31 shares during the period. Forum Financial Management LP’s holdings in Adobe were worth $1,986,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Onyx Bridge Wealth Group LLC grew its stake in shares of Adobe by 3.9% in the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after buying an additional 19 shares in the last quarter. HTLF Bank lifted its position in Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after acquiring an additional 19 shares during the last quarter. Commonwealth Financial Services LLC boosted its holdings in shares of Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after acquiring an additional 19 shares during the period. Orrstown Financial Services Inc. increased its stake in Adobe by 0.9% in the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 20 shares during the period. Finally, Orser Capital Management LLC increased its stake in Adobe by 0.3% in the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock valued at $3,815,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 481 shares of the stock in a transaction 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 transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. 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 34,187 shares of company stock worth $17,736,369 in the last three months. 0.15% of the stock is currently owned by insiders.

Adobe Trading Up 1.0 %

Shares of ADBE stock opened at $482.80 on Monday. 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 stock has a 50-day simple moving average of $522.17 and a 200 day simple moving average of $516.20. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The stock has a market capitalization of $212.53 billion, a P/E ratio of 40.78, a P/E/G ratio of 2.46 and a beta of 1.30.

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

Analyst Ratings Changes

Several research firms have weighed in on ADBE. Sanford C. Bernstein dropped their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Stifel Nicolaus increased their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and issued a $625.00 target price on shares of Adobe in a research report on Friday, September 13th. Finally, Argus raised shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock 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.