1 week Ago By ABMN Staff
Addison Advisors LLC raised its stake in Adobe Inc. ( NASDAQ:ADBE – Free Report ) by 512.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC.
The firm owned 190 shares of the software company’s stock after buying an additional 159 shares during the quarter. Addison Advisors LLC’s holdings in Adobe were worth $106,000 at the end of the most recent reporting period. Several other large investors have also recently added to or reduced their stakes in ADBE.
Norges Bank acquired a new position in Adobe in the 4th quarter valued at approximately $3,277,785,000. Wellington Management Group LLP increased its stake in Adobe by 1,213.5% in the 4th quarter.
Wellington Management Group LLP now owns 2,024,438 shares of the software company’s stock valued at $1,207,780,000 after buying an additional 1,870,307 shares during the period. Swedbank AB acquired a new position in Adobe in the 1st quarter valued at approximately $621,179,000. Price T Rowe Associates Inc.
MD increased its stake in Adobe by 17.6% in the 1st quarter. Price T Rowe Associates Inc.
MD now owns 7,644,050 shares of the software company’s stock valued at $3,857,189,000 after buying an additional 1,146,718 shares during the period. Finally, BlueSpruce Investments LP increased its stake in Adobe by 81.1% in the 1st quarter.
BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock valued at $648,712,000 after buying an additional 575,675 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.
Insiders Place Their Bets In other news, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $525.
51, for a total value of $138,734.64. Following the completion of the transaction, the chief accounting officer now owns 2,740 shares in the company, valued at $1,439,897.
40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . In other news, CAO Mark S.
Garfield sold 151 shares of Adobe stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total value of $85,254.
60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,579,186.20.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Also, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction that occurred on Monday, June 17th.
The shares were sold at an average price of $525.51, for a total transaction of $138,734.64.
Following the completion of the transaction, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The disclosure for this sale can be found here .
Insiders sold a total of 27,523 shares of company stock worth $14,994,277 over the last quarter. Company insiders own 0.15% of the company’s stock.
Adobe Stock Down 0.8 % Adobe ( NASDAQ:ADBE – Get Free Report ) last announced its quarterly earnings results on Thursday, June 13th. The software company reported $4.
48 EPS for the quarter, topping analysts’ consensus estimates of $4.39 by $0.09.
The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion.
Adobe had a net margin of 24.86% and a return on equity of 40.67%.
The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.
04 earnings per share. Equities analysts predict that Adobe Inc. will post 14.
69 EPS for the current fiscal year. Wall Street Analyst Weigh In Several research analysts have recently commented on the stock. TD Cowen dropped their price target on shares of Adobe from $640.
00 to $625.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Piper Sandler lowered their target price on shares of Adobe from $700.
00 to $635.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. StockNews.
com lowered Adobe from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $600.00 price target on shares of Adobe in a research note on Thursday, August 1st.
Finally, Piper Sandler Companies reissued an “overweight” rating and set a $635.00 price objective on shares of Adobe in a report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock.
According to data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $605.52. Get Our Latest Research Report on Adobe Adobe Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Adobe Inc. ( NASDAQ:ADBE – Free Report ). Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.
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