Adobe Inc. (NASDAQ:ADBE) Position Decreased by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 1.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,266,426 shares of the software company’s stock after selling 24,259 shares during the quarter. Adobe accounts for about 2.1% of Vontobel Holding Ltd.’s investment portfolio, making the stock its 11th largest holding. Vontobel Holding Ltd. owned 0.29% of Adobe worth $655,730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Piscataqua Savings Bank raised its position in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the period. Tradewinds Capital Management LLC raised its holdings in Adobe by 266.7% during the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Adobe in the 2nd quarter valued at approximately $33,000. Finally, Lynx Investment Advisory bought a new position in shares of Adobe in the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Adobe stock traded down $3.65 during trading hours on Wednesday, reaching $504.38. 532,010 shares of the stock were exchanged, compared to its average volume of 3,218,465. The stock has a 50 day moving average of $537.17 and a two-hundred day moving average of $515.94. Adobe Inc. has a twelve month low of $433.97 and a twelve 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 company has a market cap of $223.64 billion, a P/E ratio of 45.17, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the business earned $3.26 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Equities analysts expect that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,501,989. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,501,989. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the sale, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,078 shares of company stock worth $16,700,246 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ADBE shares. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley reissued an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $635.00 target price on shares of Adobe in a research report on Friday, July 12th. Finally, StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company 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.