1 week Ago By ABMN Staff
Farmers & Merchants Investments Inc. reduced its stake in Adobe Inc. ( NASDAQ:ADBE – Free Report ) by 41.
4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 364 shares of the software company’s stock after selling 257 shares during the period. Farmers & Merchants Investments Inc.
’s holdings in Adobe were worth $202,000 as of its most recent filing with the Securities and Exchange Commission. Other hedge funds have also modified their holdings of the company. Tradewinds Capital Management LLC grew its position in 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 acquiring an additional 40 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of Adobe by 346.
2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe in the 2nd quarter worth about $33,000.
Steph & Co. increased its position in shares of Adobe by 63.8% during the 1st quarter.
Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Lynx Investment Advisory bought a new position in Adobe during the 2nd quarter valued at about $39,000.
81.79% of the stock is owned by institutional investors and hedge funds. Analyst Ratings Changes Several research firms have recently weighed in on ADBE.
Wells Fargo & Company raised their price objective on shares of Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, June 14th.
Citigroup cut their price objective on Adobe from $554.00 to $529.00 and set a “neutral” rating for the company in a research report on Monday, June 10th.
JPMorgan Chase & Co. upgraded Adobe from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $570.00 to $580.
00 in a report on Friday, June 14th. Piper Sandler cut their price target on Adobe from $700.00 to $635.
00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, BMO Capital Markets increased their price objective on shares of Adobe from $525.00 to $580.
00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $605.
52. Insiders Place Their Bets In other Adobe news, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction dated Tuesday, July 16th.
The stock was 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 directly owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink .
In related news, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 2,740 shares in the company, valued at $1,439,897.
40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink . Also, 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 completion of the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,579,186.20.
The disclosure for this sale can be found here . Over the last ninety days, insiders have sold 27,523 shares of company stock worth $14,994,277. Corporate insiders own 0.
15% of the company’s stock. Adobe Stock Performance Shares of ADBE stock opened at $563.41 on Friday.
The stock has a 50-day moving average of $553.72 and a 200-day moving average of $519.38.
Adobe Inc. has a one year low of $433.97 and a one year high of $638.
25. The stock has a market cap of $249.82 billion, a PE ratio of 50.
62, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30.
The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.
16. Adobe ( NASDAQ:ADBE – Get Free Report ) last posted its earnings results on Thursday, June 13th. The software company reported $4.
48 earnings per share for the quarter, topping the consensus estimate of $4.39 by $0.09.
The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion.
Adobe had a net margin of 24.86% and a return on equity of 40.67%.
The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $3.
04 earnings per share. As a group, sell-side analysts expect that Adobe Inc. will post 14.
69 earnings per share for the current year. About Adobe ( 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. Further Reading 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.
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