Adobe Inc. (NASDAQ:ADBE) Shares Sold by Little House Capital LLC

Little House Capital LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 51.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,460 shares of the software company’s stock after selling 1,520 shares during the quarter. Little House Capital LLC’s holdings in Adobe were worth $756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Piscataqua Savings Bank increased its stake in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Salomon & Ludwin LLC grew 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 valued at $29,000 after buying an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Adobe in the second quarter valued at $33,000. Finally, Steph & Co. grew its stake in shares of Adobe by 63.8% in the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ADBE shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a research note on Friday, September 13th. Barclays lifted their price objective on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Sanford C. Bernstein dropped their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Bank of America reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $635.00 target price on shares of Adobe in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Performance

ADBE traded up $1.71 on Monday, hitting $496.61. 532,994 shares of the company traded hands, compared to its average volume of 3,204,592. The company has a 50 day moving average of $535.45 and a 200-day moving average of $515.91. 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 market capitalization of $220.20 billion, a PE ratio of 44.66, a PEG 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.

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, topping analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion during 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%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.26 EPS. Sell-side analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,608 shares of company stock worth $17,486,391 in the last quarter. Company insiders own 0.15% of the company’s stock.

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.