Great Valley Advisor Group Inc. Has $10.17 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Great Valley Advisor Group Inc. increased its stake in Adobe Inc. (NASDAQ:ADBE) by 51.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,648 shares of the software company’s stock after acquiring an additional 6,638 shares during the period. Great Valley Advisor Group Inc.’s holdings in Adobe were worth $10,174,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Piscataqua Savings Bank boosted its holdings in Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe during the 3rd quarter worth approximately $30,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the second quarter worth approximately $33,000. Briaud Financial Planning Inc bought a new position in Adobe in the third quarter valued at approximately $36,000. Finally, Highline Wealth Partners LLC acquired a new stake in Adobe during the 3rd quarter worth $38,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The trade was a 6.53 % 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 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several recent research reports. Bank of America restated a “buy” rating and issued a $640.00 price target on shares of Adobe in a research report on Friday, September 13th. Barclays lifted their price objective on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 target price on shares of Adobe in a report on Tuesday, October 15th. Finally, Argus upgraded Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Performance

Shares of ADBE stock opened at $512.15 on Friday. The firm’s 50 day moving average is $503.13 and its 200 day moving average is $518.84. 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 12 month low of $433.97 and a 12 month high of $638.25. The stock has a market capitalization of $225.45 billion, a P/E ratio of 43.26, a PEG ratio of 2.57 and a beta of 1.30.

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

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.