Courier Capital LLC Has $259,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Courier Capital LLC cut its position in Adobe Inc. (NASDAQ:ADBE) by 8.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the software company’s stock after selling 49 shares during the quarter. Courier Capital LLC’s holdings in Adobe were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Piscataqua Savings Bank increased its holdings in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Tradewinds Capital Management LLC increased its stake in Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after acquiring an additional 40 shares during the period. Salomon & Ludwin LLC raised its holdings in Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe during the 2nd quarter valued at $33,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Adobe during the 2nd quarter worth $39,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.4 %

NASDAQ ADBE opened at $482.87 on Friday. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $214.10 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The business’s 50-day moving average price is $532.85 and its two-hundred day moving average price is $515.83.

Adobe (NASDAQ:ADBE) last released 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 business had revenue of $5.41 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 EPS. On average, analysts expect that Adobe Inc. will post 14.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADBE. Piper Sandler reaffirmed an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research note on Friday, September 13th. UBS Group cut their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 price target on shares of Adobe in a research report on Tuesday, October 15th. Oppenheimer restated an “outperform” rating and set a $625.00 price objective on shares of Adobe in a research report on Friday, September 13th. Finally, Stifel Nicolaus raised their target price on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now directly owns 18,831 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Durn sold 6,500 shares of Adobe 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 completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold 33,030 shares of company stock valued at $17,176,005 over the last quarter. 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.