Capital Investment Advisors LLC Has $3.30 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Capital Investment Advisors LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 14.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,378 shares of the software company’s stock after acquiring an additional 789 shares during the period. Capital Investment Advisors LLC’s holdings in Adobe were worth $3,302,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Piscataqua Savings Bank raised its stake in Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the period. Tradewinds Capital Management LLC grew its stake in Adobe by 266.7% during the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after buying an additional 40 shares in the last quarter. Salomon & Ludwin LLC boosted its position in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Adobe in the 2nd quarter valued at $33,000. Finally, Steph & Co. grew its position in Adobe by 63.8% in the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In related news, EVP Scott Belsky sold 481 shares of Adobe 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 sale, the executive vice president now owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the transaction, the chief executive officer now 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 sale 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 business’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 transaction of $258,297.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 33,608 shares of company stock valued at $17,486,391 in the last three months. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADBE. Citigroup boosted their target price on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 target price on shares of Adobe in a research note on Tuesday, October 15th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Performance

ADBE stock opened at $494.90 on Friday. The business has a 50 day moving average of $535.45 and a 200-day moving average of $515.78. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The firm has a market cap of $219.44 billion, a PE ratio of 44.47, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.26 EPS. As a group, sell-side analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

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.