KFA Private Wealth Group LLC Purchases 57 Shares of Adobe Inc. (NASDAQ:ADBE)

KFA Private Wealth Group LLC grew its position in Adobe Inc. (NASDAQ:ADBE) by 12.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 531 shares of the software company’s stock after acquiring an additional 57 shares during the period. KFA Private Wealth Group LLC’s holdings in Adobe were worth $275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Everett Harris & Co. CA raised its position in Adobe by 11.6% in the 3rd quarter. Everett Harris & Co. CA now owns 897 shares of the software company’s stock valued at $464,000 after purchasing an additional 93 shares during the last quarter. Meridiem Investment Management Ltd. raised its holdings in shares of Adobe by 0.7% in the third quarter. Meridiem Investment Management Ltd. now owns 209,972 shares of the software company’s stock valued at $108,714,000 after buying an additional 1,469 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Adobe by 71.4% in the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 1,200 shares of the software company’s stock valued at $621,000 after buying an additional 500 shares during the last quarter. ST Germain D J Co. Inc. lifted its position in Adobe by 12.1% during the 3rd quarter. ST Germain D J Co. Inc. now owns 13,631 shares of the software company’s stock worth $7,058,000 after buying an additional 1,470 shares in the last quarter. Finally, Slow Capital Inc. lifted its position in Adobe by 4.2% during the 3rd quarter. Slow Capital Inc. now owns 6,611 shares of the software company’s stock worth $3,423,000 after buying an additional 266 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Piper Sandler reiterated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, September 13th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Bank of America reiterated a “buy” rating and set a $640.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Price Performance

NASDAQ ADBE opened at $494.90 on Friday. The business has a 50 day simple moving average of $535.45 and a 200 day simple moving average of $515.78. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $219.44 billion, a price-to-earnings ratio of 44.47, a PEG ratio of 2.55 and a beta of 1.29.

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

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s 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 transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s 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 transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the company’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 transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,608 shares of company stock valued at $17,486,391. 0.15% of the stock is owned by corporate 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.