Slow Capital Inc. Acquires 266 Shares of Adobe Inc. (NASDAQ:ADBE)

Slow Capital Inc. raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.2% during the third quarter, Holdings Channel.com reports. The fund owned 6,611 shares of the software company’s stock after buying an additional 266 shares during the period. Slow Capital Inc.’s holdings in Adobe were worth $3,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. &PARTNERS increased its holdings in shares of Adobe by 305.0% in the first quarter. &PARTNERS now owns 1,932 shares of the software company’s stock worth $975,000 after purchasing an additional 1,455 shares during the last quarter. City State Bank increased its holdings in shares of Adobe by 28.3% in the first quarter. City State Bank now owns 444 shares of the software company’s stock worth $224,000 after purchasing an additional 98 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Adobe by 16.2% in the first quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after purchasing an additional 398 shares during the last quarter. Bangor Savings Bank increased its holdings in shares of Adobe by 0.5% in the first quarter. Bangor Savings Bank now owns 4,411 shares of the software company’s stock worth $2,226,000 after purchasing an additional 24 shares during the last quarter. Finally, Unique Wealth LLC increased its holdings in shares of Adobe by 46.8% in the first quarter. Unique Wealth LLC now owns 2,552 shares of the software company’s stock worth $1,288,000 after purchasing an additional 814 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADBE shares. UBS Group reduced their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Piper Sandler reissued an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research note on Friday, September 13th. Morgan Stanley reissued an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research note on Friday, September 13th. Stifel Nicolaus boosted their price objective on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Citigroup boosted their price objective on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Down 0.4 %

Shares of NASDAQ ADBE opened at $494.90 on Friday. 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 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 stock has a 50 day moving average price of $535.45 and a 200 day moving average price of $515.67. Adobe Inc. has a 52-week low of $433.97 and a 52-week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.26 earnings per share. Sell-side analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,608 shares of company stock worth $17,486,391 over the last 90 days. Company insiders own 0.15% of the company’s stock.

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.