Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,578 shares of the software company’s stock after purchasing an additional 3,001 shares during the quarter. Adobe makes up about 2.9% of Schaper Benz & Wise Investment Counsel Inc. WI’s holdings, making the stock its 4th biggest position. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Adobe were worth $36,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Piscataqua Savings Bank grew its holdings 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 purchasing an additional 34 shares during the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of 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 buying an additional 40 shares during the period. Salomon & Ludwin LLC grew its stake 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 buying an additional 45 shares during the last quarter. Summit Securities Group LLC bought a new position in Adobe in the 2nd quarter worth $33,000. Finally, Steph & Co. lifted its position in Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, 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 transaction of $258,297.00. Following the completion of the transaction, the executive vice president now directly owns 19,658 shares in the company, valued at approximately $10,556,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the transaction, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at $10,556,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of the firm’s 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 sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,608 shares of company stock valued at $17,486,391. 0.15% of the stock is currently owned by company insiders.

Adobe Price Performance

Shares of ADBE stock opened at $494.90 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The firm 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. The stock has a 50-day moving average price of $535.45 and a 200 day moving average price of $515.78.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm posted $3.26 earnings per share. Adobe’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts expect that Adobe Inc. will post 14.8 EPS for the current year.

Analyst Ratings Changes

ADBE has been the topic of several research analyst reports. Sanford C. Bernstein lowered their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. 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. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Piper Sandler reissued an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research report on Friday, September 13th. Finally, Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.