Highview Capital Management LLC DE Invests $1.80 Million in Adobe Inc. (NASDAQ:ADBE)

Highview Capital Management LLC DE acquired a new position in Adobe Inc. (NASDAQ:ADBE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,485 shares of the software company’s stock, valued at approximately $1,804,000.

A number of other large investors also recently bought and sold shares of the business. Farmers & Merchants Investments Inc. grew its stake in shares of Adobe by 69.2% during the first quarter. Farmers & Merchants Investments Inc. now owns 621 shares of the software company’s stock worth $313,000 after acquiring an additional 254 shares during the last quarter. Tradewinds Capital Management LLC boosted its stake 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 acquiring an additional 40 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Adobe by 8.0% in the first quarter. Valeo Financial Advisors LLC now owns 5,563 shares of the software company’s stock valued at $2,807,000 after buying an additional 413 shares in the last quarter. Mainsail Financial Group LLC increased its holdings in Adobe by 2.3% in the 1st quarter. Mainsail Financial Group LLC now owns 2,149 shares of the software company’s stock worth $1,084,000 after acquiring an additional 49 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of Adobe by 7.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 9,457 shares of the software company’s stock worth $4,772,000 after purchasing an additional 619 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Shantanu Narayen sold 25,000 shares of the firm’s 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,511 shares of company stock valued at $17,408,530. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

Shares of ADBE opened at $485.39 on Wednesday. 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 $526.85 and a 200-day simple moving average of $516.01. 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 company has a market capitalization of $215.22 billion, a price-to-earnings ratio of 43.61, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last issued its 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 business had revenue of $5.41 billion for 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 business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 earnings per share. On average, equities research analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on ADBE. Piper Sandler reaffirmed an “overweight” rating and set a $635.00 target price on shares of Adobe in a research note on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research note on Friday, September 13th. Sanford C. Bernstein dropped their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Bank of America reissued a “buy” rating and set a $640.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, Citigroup boosted their target price on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Two equities research 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 stock. Based on data from MarketBeat, Adobe presently 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.