Fulcrum Capital LLC Increases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Fulcrum Capital LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,710 shares of the software company’s stock after purchasing an additional 160 shares during the quarter. Adobe accounts for 2.8% of Fulcrum Capital LLC’s portfolio, making the stock its 9th biggest holding. Fulcrum Capital LLC’s holdings in Adobe were worth $12,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Eagle Bay Advisors LLC increased its position in Adobe by 1.3% during the third quarter. Eagle Bay Advisors LLC now owns 2,047 shares of the software company’s stock valued at $1,060,000 after acquiring an additional 26 shares during the last quarter. Lake Street Private Wealth LLC increased its position in Adobe by 1.4% during the third quarter. Lake Street Private Wealth LLC now owns 7,491 shares of the software company’s stock valued at $3,879,000 after acquiring an additional 107 shares during the last quarter. TFG Advisers LLC increased its position in Adobe by 14.6% during the third quarter. TFG Advisers LLC now owns 573 shares of the software company’s stock valued at $297,000 after acquiring an additional 73 shares during the last quarter. Greenleaf Trust increased its position in Adobe by 0.9% during the third quarter. Greenleaf Trust now owns 43,789 shares of the software company’s stock valued at $22,673,000 after acquiring an additional 383 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in Adobe by 5.5% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 103,653 shares of the software company’s stock valued at $53,669,000 after acquiring an additional 5,398 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’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 value of $13,039,500.00. Following the completion of the sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Shantanu Narayen sold 25,000 shares of the firm’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 directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,030 shares of company stock valued at $17,176,005 in the last ninety days. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

NASDAQ:ADBE opened at $485.03 on Thursday. The firm has a market capitalization of $215.06 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The business has a 50 day simple moving average of $532.85 and a 200-day simple moving average of $515.83. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The business 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%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $3.26 EPS. Equities analysts forecast that Adobe Inc. will post 14.8 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of research reports. Piper Sandler Companies reiterated an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday, July 12th. Citigroup upped their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. 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. Oppenheimer restated an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, Barclays upped their price target on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.