Trust Co. of Oklahoma Has $704,000 Position in Adobe Inc. (NASDAQ:ADBE)

Trust Co. of Oklahoma cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,359 shares of the software company’s stock after selling 144 shares during the quarter. Trust Co. of Oklahoma’s holdings in Adobe were worth $704,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ADBE. Scarborough Advisors LLC bought a new stake in Adobe in the fourth quarter valued at $62,000. Nomura Holdings Inc. grew its position in Adobe by 222.4% in the fourth quarter. Nomura Holdings Inc. now owns 13,328 shares of the software company’s stock valued at $7,951,000 after acquiring an additional 9,194 shares during the period. Campbell Capital Management Inc. grew its position in Adobe by 24.7% in the first quarter. Campbell Capital Management Inc. now owns 10,215 shares of the software company’s stock valued at $5,154,000 after acquiring an additional 2,025 shares during the period. Strategic Advocates LLC grew its position in Adobe by 253.0% in the first quarter. Strategic Advocates LLC now owns 5,358 shares of the software company’s stock valued at $2,704,000 after acquiring an additional 3,840 shares during the period. Finally, Trust Co. of Toledo NA OH grew its position in Adobe by 2.4% in the first quarter. Trust Co. of Toledo NA OH now owns 2,554 shares of the software company’s stock valued at $1,289,000 after acquiring an additional 59 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 0.2 %

Shares of Adobe stock traded down $1.07 during trading hours on Tuesday, hitting $508.58. The company’s stock had a trading volume of 2,097,300 shares, compared to its average volume of 3,224,385. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The stock has a 50 day moving average of $537.29 and a 200 day moving average of $515.92. The company has a market capitalization of $225.50 billion, a PE ratio of 45.87, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. 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 announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company earned $3.26 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that Adobe Inc. will post 14.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Argus raised Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America reissued a “buy” rating and issued a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research note on Tuesday. Sanford C. Bernstein reduced their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $635.00 price objective 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 issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 481 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 $258,297.00. Following the completion of the transaction, the executive vice president now directly owns 19,658 shares in the company, valued at approximately $10,556,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Adobe 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 transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,078 shares of company stock worth $16,700,246. 0.15% of the stock is owned by corporate insiders.

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.