Mount Yale Investment Advisors LLC Has $1.76 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Mount Yale Investment Advisors LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,406 shares of the software company’s stock after selling 68 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Adobe were worth $1,764,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ADBE. International Assets Investment Management LLC grew its position in shares of Adobe by 66,909.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after purchasing an additional 1,376,333 shares during the period. Swedbank AB bought a new position in Adobe in the first quarter valued at approximately $621,179,000. Longview Partners Guernsey LTD acquired a new position in shares of Adobe in the second quarter valued at approximately $663,745,000. Price T Rowe Associates Inc. MD increased its position in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after acquiring an additional 1,146,718 shares in the last quarter. Finally, BlueSpruce Investments LP raised its holdings in shares of Adobe by 81.1% during the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock worth $648,712,000 after acquiring an additional 575,675 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Piper Sandler reiterated an “overweight” rating and set a $635.00 price objective on shares of Adobe in a report on Friday, September 13th. UBS Group cut their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Barclays raised their price target on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus boosted their price objective on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Adobe Price Performance

Adobe stock opened at $483.72 on Friday. The stock has a fifty day moving average of $531.42 and a 200-day moving average of $515.60. The stock has a market capitalization of $214.48 billion, a P/E ratio of 43.46, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $3.26 earnings per share. On average, sell-side analysts expect that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In related news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction 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 completion of the transaction, the chief financial officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. 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 can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’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 transaction of $13,039,500.00. Following the sale, 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 90 days, insiders have sold 33,030 shares of company stock worth $17,176,005. Company insiders own 0.15% of the company’s stock.

Adobe Company 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.