Bull Oak Capital LLC Purchases Shares of 952 Adobe Inc. (NASDAQ:ADBE)

Bull Oak Capital LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 952 shares of the software company’s stock, valued at approximately $493,000. Adobe makes up 0.3% of Bull Oak Capital LLC’s investment portfolio, making the stock its 18th largest position.

Other large investors have also added to or reduced their stakes in the company. Cypress Wealth Services LLC increased its holdings in shares of Adobe by 40.1% in the first quarter. Cypress Wealth Services LLC now owns 479 shares of the software company’s stock worth $242,000 after buying an additional 137 shares during the period. Register Financial Advisors LLC bought a new stake in shares of Adobe in the 1st quarter valued at about $111,000. Cambridge Advisors Inc. bought a new stake in shares of Adobe in the 1st quarter valued at about $202,000. Kathmere Capital Management LLC lifted its stake in shares of Adobe by 1.9% in the 1st quarter. Kathmere Capital Management LLC now owns 3,073 shares of the software company’s stock valued at $1,551,000 after acquiring an additional 58 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. lifted its stake in shares of Adobe by 4.1% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 888 shares of the software company’s stock valued at $417,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADBE. Piper Sandler reissued an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research note on Friday, September 13th. Bank of America reissued a “buy” rating and issued a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Insider Activity

In related news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated 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 directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 in the company, 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. Insiders have sold a total of 33,030 shares of company stock valued at $17,176,005 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Down 0.4 %

NASDAQ:ADBE opened at $482.87 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $214.10 billion, a P/E ratio of 43.38, a P/E/G ratio of 2.55 and a beta of 1.29. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The firm has a 50-day simple moving average of $532.85 and a two-hundred day simple moving average of $515.83.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.12. The company 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 firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.26 earnings per share. Analysts predict that Adobe Inc. will post 14.8 earnings per share 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.