Nvwm LLC Raises Holdings in Adobe Inc. (NASDAQ:ADBE)

Nvwm LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.1% during the third quarter, Holdings Channel.com reports. The firm owned 2,966 shares of the software company’s stock after purchasing an additional 32 shares during the period. Nvwm LLC’s holdings in Adobe were worth $1,536,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ADBE. Piscataqua Savings Bank lifted its holdings in shares of Adobe by 226.7% in the 3rd 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. Salomon & Ludwin LLC lifted its stake in Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Adobe during the second quarter worth $33,000. Lynx Investment Advisory acquired a new stake in shares of Adobe in the second quarter valued at $39,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Adobe in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE stock traded up $4.72 on Friday, hitting $482.80. The company’s stock had a trading volume of 2,852,008 shares, compared to its average volume of 3,176,052. The stock has a market cap of $212.53 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29. The firm has a 50 day moving average of $522.17 and a two-hundred day moving average of $515.91. 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 1 year low of $433.97 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company earned $3.26 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction of $13,039,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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 owns 18,831 shares in the company, valued at $9,675,744.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Shantanu Narayen sold 25,000 shares of the business’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 transaction, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 target price on shares of Adobe in a research report on Friday, September 13th. Stifel Nicolaus lifted their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Bank of America reiterated a “buy” rating and set a $640.00 target price on shares of Adobe in a report on Friday, September 13th. Royal Bank of Canada restated an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research note on Tuesday, October 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday, September 13th. Two equities 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

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.