Ameliora Wealth Management Ltd. Has $609,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Ameliora Wealth Management Ltd. lifted its position in Adobe Inc. (NASDAQ:ADBE) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,176 shares of the software company’s stock after buying an additional 55 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in Adobe were worth $609,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Sound Income Strategies LLC grew its stake in shares of Adobe by 27.1% in the 3rd quarter. Sound Income Strategies LLC now owns 253 shares of the software company’s stock valued at $131,000 after buying an additional 54 shares in the last quarter. Crestmont Private Wealth LLC boosted its position in shares of Adobe by 6.4% in the third quarter. Crestmont Private Wealth LLC now owns 919 shares of the software company’s stock valued at $476,000 after acquiring an additional 55 shares during the period. Birch Hill Investment Advisors LLC raised its stake in shares of Adobe by 42.5% in the third quarter. Birch Hill Investment Advisors LLC now owns 42,204 shares of the software company’s stock valued at $21,852,000 after purchasing an additional 12,593 shares in the last quarter. CHICAGO TRUST Co NA raised its stake in Adobe by 5.2% during the third quarter. CHICAGO TRUST Co NA now owns 5,675 shares of the software company’s stock worth $2,938,000 after acquiring an additional 283 shares in the last quarter. Finally, Compton Wealth Advisory Group LLC raised its stake in Adobe by 4.9% during the third quarter. Compton Wealth Advisory Group LLC now owns 5,267 shares of the software company’s stock worth $2,727,000 after acquiring an additional 247 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the business’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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the company’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 $52,089.00. Following the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,759 shares of company stock valued at $17,642,653 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays raised their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Piper Sandler Companies restated an “overweight” rating and set a $635.00 target price on shares of Adobe in a report on Friday, July 12th. Royal Bank of Canada restated an “outperform” rating and set a $610.00 target price on shares of Adobe in a report on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Finally, UBS Group reduced their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Down 1.6 %

Adobe stock traded down $8.15 during midday trading on Friday, reaching $495.42. The stock had a trading volume of 2,992,409 shares, compared to its average volume of 3,229,145. The firm’s fifty day simple moving average is $537.29 and its 200-day simple moving average is $515.80. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The stock has a market capitalization of $219.67 billion, a P/E ratio of 44.51, 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 (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 the consensus estimate 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 return on equity of 42.82% and a net margin of 25.59%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.26 EPS. As a group, analysts expect that Adobe Inc. will post 14.8 EPS for the current fiscal year.

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.