First Bank & Trust Buys 26 Shares of Adobe Inc. (NASDAQ:ADBE)

First Bank & Trust lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 3,933 shares of the software company’s stock after buying an additional 26 shares during the quarter. First Bank & Trust’s holdings in Adobe were worth $2,036,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. Piscataqua Savings Bank lifted its stake in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Salomon & Ludwin LLC lifted its holdings in 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 purchasing an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new position in Adobe in the 2nd quarter worth about $33,000. Finally, Lynx Investment Advisory purchased a new position in Adobe during the 2nd quarter valued at about $39,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research report on Friday, September 13th. Barclays upped their price target on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Bank of America restated a “buy” rating and set a $640.00 target price on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein lowered their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $610.00 price objective on shares of Adobe in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Stock Up 0.2 %

ADBE stock traded up $0.85 during midday trading on Friday, hitting $483.72. The stock had a trading volume of 2,426,769 shares, compared to its average volume of 3,190,407. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $214.48 billion, a price-to-earnings ratio of 43.46, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The business has a 50-day moving average of $530.03 and a two-hundred day moving average of $515.60. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last issued 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. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the company posted $3.26 EPS. Adobe’s revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts forecast that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. This 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 at the SEC website. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction that occurred 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 directly owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,030 shares of company stock valued at $17,176,005 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.

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.