Adobe Inc. (NASDAQ:ADBE) Shares Acquired by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 34.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,528 shares of the software company’s stock after purchasing an additional 1,414 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Adobe were worth $2,862,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ADBE. Piscataqua Savings Bank raised its stake in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Summit Securities Group LLC acquired a new position in Adobe in the second quarter valued at approximately $33,000. Highline Wealth Partners LLC acquired a new stake in shares of Adobe during the 3rd quarter worth approximately $38,000. Lynx Investment Advisory purchased a new position in shares of Adobe during the 2nd quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Adobe in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 676 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Adobe news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 0.00 % decrease in their ownership of the stock. 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 business’s stock in a transaction dated Tuesday, September 17th. The shares were 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 directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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 Analyst Weigh In

Several brokerages recently weighed in on ADBE. Morgan Stanley restated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research note on Friday, September 13th. Oppenheimer reiterated an “outperform” rating and set a $625.00 target price on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein cut their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Stifel Nicolaus boosted their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Trading Up 2.0 %

NASDAQ ADBE opened at $504.48 on Tuesday. 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 $222.07 billion, a P/E ratio of 42.61, a PEG ratio of 2.55 and a beta of 1.30. The firm’s 50-day moving average is $513.50 and its two-hundred day moving average is $517.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

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

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.