Adobe Inc. (NASDAQ:ADBE) Position Boosted by Northwest Bank & Trust Co

Northwest Bank & Trust Co lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,760 shares of the software company’s stock after purchasing an additional 35 shares during the period. Northwest Bank & Trust Co’s holdings in Adobe were worth $911,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Tradewinds Capital Management LLC increased its stake in shares of Adobe by 266.7% during 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 increased its stake in shares of Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Summit Securities Group LLC acquired a new position in shares of Adobe during the second quarter valued at approximately $33,000. Steph & Co. increased its stake in shares of Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Finally, Lynx Investment Advisory acquired a new position in shares of Adobe during the second quarter valued at approximately $39,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.8 %

Shares of ADBE traded up $8.73 during trading hours on Thursday, reaching $502.81. The stock had a trading volume of 1,072,221 shares, compared to its average volume of 3,221,677. The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The firm has a 50-day moving average of $538.76 and a 200 day moving average of $515.91. The company has a market cap of $222.95 billion, a P/E ratio of 44.79, a P/E/G ratio of 2.72 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company earned $3.26 EPS. Adobe’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that Adobe Inc. will post 14.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 directly owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,759 shares of company stock worth $17,642,653. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein reduced their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. BMO Capital Markets lifted their price objective on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 price objective on shares of Adobe in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. raised Adobe from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $570.00 to $580.00 in a research report on Friday, June 14th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.