Adobe Inc. (NASDAQ:ADBE) Stake Raised by Violich Capital Management Inc.

Violich Capital Management Inc. raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,776 shares of the software company’s stock after acquiring an additional 25 shares during the quarter. Violich Capital Management Inc.’s holdings in Adobe were worth $2,473,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Piscataqua Savings Bank increased its stake in Adobe by 226.7% in 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 period. Tradewinds Capital Management LLC increased 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 raised its holdings in shares of 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 acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Adobe during the second quarter valued at $33,000. Finally, Steph & Co. increased its position in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the sale, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $258,297.00. Following the sale, the executive vice president now directly owns 19,658 shares in the company, valued at approximately $10,556,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 97 shares of the stock in a transaction dated 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 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. Insiders sold 33,608 shares of company stock valued at $17,486,391 over the last three months. Company insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.4 %

NASDAQ:ADBE opened at $494.90 on Monday. The firm has a market capitalization of $219.44 billion, a price-to-earnings ratio of 44.47, a PEG ratio of 2.55 and a beta of 1.29. The business’s 50-day moving average price is $535.45 and its two-hundred day moving average price is $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 quarterly 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 company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm posted $3.26 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler Companies restated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. Sanford C. Bernstein decreased their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. UBS Group decreased their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Bank of America reaffirmed a “buy” rating and set a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. Finally, StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average price target of $606.40.

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.