CHICAGO TRUST Co NA Acquires 283 Shares of Adobe Inc. (NASDAQ:ADBE)

CHICAGO TRUST Co NA grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,675 shares of the software company’s stock after buying an additional 283 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Adobe were worth $2,938,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ADBE. American Trust increased its position in shares of Adobe by 19.1% in the fourth quarter. American Trust now owns 499 shares of the software company’s stock valued at $298,000 after acquiring an additional 80 shares during the period. Garde Capital Inc. grew its position in shares of Adobe by 17.6% in the 4th quarter. Garde Capital Inc. now owns 541 shares of the software company’s stock worth $323,000 after buying an additional 81 shares during the period. Raleigh Capital Management Inc. increased its stake in shares of Adobe by 11.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 622 shares of the software company’s stock valued at $371,000 after purchasing an additional 63 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of Adobe during the fourth quarter valued at approximately $61,000. Finally, Beacon Financial Group bought a new stake in shares of Adobe in the 4th quarter worth approximately $343,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Daniel Durn sold 6,500 shares of Adobe 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 sale, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,759 shares of company stock valued at $17,642,653. Company insiders own 0.15% of the company’s stock.

Adobe Stock Down 1.6 %

ADBE stock opened at $495.42 on Friday. The business’s 50-day moving average price is $537.29 and its 200-day moving average price is $515.80. The stock has a market cap of $219.67 billion, a P/E ratio of 44.51, a PEG ratio of 2.55 and a beta of 1.29. 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 twelve month low of $433.97 and a twelve month 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 for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.26 earnings per share. On average, equities research analysts forecast that Adobe Inc. will post 14.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler Companies reissued an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday, July 12th. Barclays lifted their target price on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $610.00 price target on shares of Adobe in a report on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Sanford C. Bernstein lowered their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.