Tompkins Financial Corp Purchases 699 Shares of Adobe Inc. (NASDAQ:ADBE)

Tompkins Financial Corp grew its position in Adobe Inc. (NASDAQ:ADBE) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,350 shares of the software company’s stock after acquiring an additional 699 shares during the period. Tompkins Financial Corp’s holdings in Adobe were worth $6,912,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Piscataqua Savings Bank grew its position in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Summit Securities Group LLC acquired a new position in Adobe in the 2nd quarter valued at $33,000. Highline Wealth Partners LLC bought a new stake in shares of Adobe during the 3rd quarter valued at $38,000. Lynx Investment Advisory acquired a new stake in shares of Adobe during the 2nd quarter worth $39,000. Finally, Hobbs Group Advisors LLC bought a new stake in Adobe during the second quarter worth about $39,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock worth $17,736,369 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADBE shares. Barclays increased their price target on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Stifel Nicolaus raised their target price on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Argus raised Adobe to a “strong-buy” rating in a research note on Monday, September 16th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, Citigroup upped their price target on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Down 1.2 %

NASDAQ:ADBE traded down $6.24 during trading hours on Friday, reaching $494.68. The company had a trading volume of 2,856,859 shares, compared to its average volume of 3,158,276. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market cap of $217.76 billion, a price-to-earnings ratio of 41.78, a P/E/G ratio of 2.48 and a beta of 1.30. The business’s 50-day simple moving average is $514.90 and its two-hundred day simple moving average is $516.42.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating 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 analyst estimates of $5.37 billion. During the same period in the previous year, the company posted $3.26 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts expect that Adobe Inc. will post 14.82 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.