RFG Holdings Inc. Acquires 128 Shares of Adobe Inc. (NASDAQ:ADBE)

RFG Holdings Inc. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 12.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,176 shares of the software company’s stock after buying an additional 128 shares during the period. RFG Holdings Inc.’s holdings in Adobe were worth $609,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADBE. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in shares of Adobe by 0.8% during the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,842 shares of the software company’s stock worth $6,132,000 after acquiring an additional 89 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Adobe by 21.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,396 shares of the software company’s stock worth $3,829,000 after purchasing an additional 1,302 shares during the last quarter. Fiduciary Financial Group LLC acquired a new stake in Adobe in the 3rd quarter worth approximately $448,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Adobe by 52.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,872 shares of the software company’s stock worth $10,806,000 after purchasing an additional 7,172 shares during the period. Finally, Nvest Financial LLC grew its holdings in Adobe by 13.0% during the third quarter. Nvest Financial LLC now owns 1,873 shares of the software company’s stock valued at $970,000 after purchasing an additional 216 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler Companies restated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research note on Friday, July 12th. JPMorgan Chase & Co. upgraded shares of Adobe from a “neutral” rating to an “overweight” rating and upped their price target for the company from $570.00 to $580.00 in a report on Friday, June 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Citigroup boosted their price objective on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. 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 target price of $606.40.

Adobe Price Performance

NASDAQ:ADBE opened at $495.42 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 firm has a market cap of $218.08 billion, a PE ratio of 41.84, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company’s 50-day moving average price is $537.29 and its two-hundred day moving average price is $515.75.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.53 by $0.12. The business 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 was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.26 EPS. On average, equities analysts anticipate that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $560.23, for a total transaction of $857,151.90. Following the sale, the executive vice president now owns 20,359 shares of the company’s stock, valued at $11,405,722.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $560.23, for a total value of $857,151.90. Following the completion of the sale, the executive vice president now owns 20,359 shares of the company’s stock, valued at approximately $11,405,722.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,759 shares of company stock valued at $17,642,653. 0.15% of the stock is currently owned by corporate insiders.

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.