Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $282.35 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 584,740 shares of the software company’s stock after purchasing an additional 7,055 shares during the period. Adobe comprises approximately 2.5% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 13th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Adobe were worth $282,353,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ADBE. Onyx Bridge Wealth Group LLC raised its stake in Adobe by 3.9% in the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after buying an additional 19 shares in the last quarter. HTLF Bank increased its stake in shares of Adobe by 3.3% during the second quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in shares of Adobe by 3.7% during the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after purchasing an additional 19 shares in the last quarter. Orrstown Financial Services Inc. grew its holdings in shares of Adobe by 0.9% during the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after buying an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC grew its holdings in shares of Adobe by 0.3% during the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock valued at $3,815,000 after buying an additional 20 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. UBS Group dropped their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research report on Tuesday, October 15th. Piper Sandler reiterated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research report on Friday, September 13th. Citigroup increased their price target on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Up 0.5 %

NASDAQ:ADBE traded up $2.49 during mid-day trading on Wednesday, hitting $487.88. The stock had a trading volume of 472,619 shares, compared to its average volume of 3,167,520. The stock has a 50-day simple moving average of $526.85 and a two-hundred day simple moving average of $516.01. The company has a market capitalization of $216.33 billion, a PE ratio of 43.61, a PEG ratio of 2.55 and a beta of 1.29. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. 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 (NASDAQ:ADBE) last released its quarterly earnings data 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 quarter last year, the company earned $3.26 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that Adobe Inc. will post 14.8 EPS for the current year.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Adobe news, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction 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 transaction, 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 33,511 shares of company stock valued at $17,408,530 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

About Adobe

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.