Dynamic Advisor Solutions LLC Has $5.44 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Dynamic Advisor Solutions LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,514 shares of the software company’s stock after purchasing an additional 42 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Adobe were worth $5,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. XML Financial LLC bought a new stake in Adobe in the fourth quarter valued at $224,000. Nomura Holdings Inc. boosted its stake in shares of Adobe by 222.4% in the 4th quarter. Nomura Holdings Inc. now owns 13,328 shares of the software company’s stock valued at $7,951,000 after purchasing an additional 9,194 shares in the last quarter. Visionary Wealth Advisors grew its holdings in shares of Adobe by 1.0% in the 4th quarter. Visionary Wealth Advisors now owns 1,962 shares of the software company’s stock worth $1,171,000 after purchasing an additional 20 shares during the last quarter. Ethic Inc. increased its position in shares of Adobe by 6.6% during the 4th quarter. Ethic Inc. now owns 39,128 shares of the software company’s stock worth $23,344,000 after purchasing an additional 2,438 shares in the last quarter. Finally, Putnam Investments LLC lifted its holdings in Adobe by 41.2% during the 4th quarter. Putnam Investments LLC now owns 1,053,424 shares of the software company’s stock valued at $628,473,000 after purchasing an additional 307,479 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. This trade 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 accessible through this hyperlink. In other news, CEO Shantanu Narayen sold 25,000 shares of the 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 completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,759 shares of company stock valued at $17,642,653 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADBE has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Stifel Nicolaus lifted their price objective on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. KeyCorp increased their target price on Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a report on Friday, June 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Performance

Shares of ADBE stock opened at $496.24 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.11. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company’s 50 day moving average price is $540.76 and its two-hundred day moving average price is $516.09. The company has a market capitalization of $220.03 billion, a P/E ratio of 44.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping 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 firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business earned $3.26 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts expect that Adobe Inc. will post 14.79 earnings per share for the current fiscal year.

Adobe Company 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.