HF Advisory Group LLC Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

HF Advisory Group LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.8% in the third quarter, HoldingsChannel.com reports. The firm owned 2,796 shares of the software company’s stock after buying an additional 76 shares during the quarter. HF Advisory Group LLC’s holdings in Adobe were worth $1,448,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ADBE. Csenge Advisory Group increased its position in Adobe by 4.2% during the 1st quarter. Csenge Advisory Group now owns 3,395 shares of the software company’s stock valued at $1,713,000 after buying an additional 136 shares in the last quarter. Valley Wealth Managers Inc. lifted its position in Adobe by 41.1% during the first quarter. Valley Wealth Managers Inc. now owns 988 shares of the software company’s stock valued at $499,000 after purchasing an additional 288 shares in the last quarter. Howland Capital Management LLC grew its stake in shares of Adobe by 2.7% during the 1st quarter. Howland Capital Management LLC now owns 3,922 shares of the software company’s stock valued at $1,979,000 after acquiring an additional 103 shares during the period. Hemenway Trust Co LLC increased its holdings in Adobe by 26.8% in the 1st quarter. Hemenway Trust Co LLC now owns 6,031 shares of the software company’s stock worth $3,043,000 after acquiring an additional 1,273 shares in the last quarter. Finally, Broderick Brian C raised its position in shares of Adobe by 103.9% during the 1st quarter. Broderick Brian C now owns 4,103 shares of the software company’s stock valued at $2,070,000 after purchasing an additional 2,091 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Adobe news, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 in the last three months. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Performance

Shares of Adobe stock opened at $486.42 on Wednesday. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The firm has a fifty day moving average of $518.98 and a two-hundred day moving average of $516.41. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $214.12 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 2.49 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.26 EPS. As a group, equities research analysts predict that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ADBE. Bank of America reissued a “buy” rating and set a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. UBS Group lowered their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Sanford C. Bernstein cut 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. Stifel Nicolaus upped their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Piper Sandler restated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned 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 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.