Adobe Inc. (NASDAQ:ADBE) Shares Sold by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,208 shares of the software company’s stock after selling 27 shares during the period. Kesler Norman & Wride LLC’s holdings in Adobe were worth $625,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADBE. Tradewinds Capital Management LLC boosted its stake in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after acquiring an additional 45 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Adobe in the second quarter worth approximately $33,000. Steph & Co. boosted its stake in shares of Adobe by 63.8% in the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new stake in shares of Adobe in the second quarter worth approximately $39,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Up 1.8 %

Adobe stock opened at $496.24 on Wednesday. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.11. The company has a market capitalization of $220.03 billion, a P/E ratio of 44.59, a PEG ratio of 2.72 and a beta of 1.29. The stock has a 50-day simple moving average of $540.76 and a 200-day simple moving average of $516.09.

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 return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the business earned $3.26 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Adobe Inc. will post 14.79 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. BMO Capital Markets lifted their price objective on Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Sanford C. Bernstein reduced their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Activity

In other Adobe 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 directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Adobe 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 directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,759 shares of company stock valued at $17,642,653. Insiders own 0.15% of the company’s stock.

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.