Americana Partners LLC Has $20.32 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Americana Partners LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,250 shares of the software company’s stock after acquiring an additional 934 shares during the period. Adobe makes up about 1.4% of Americana Partners LLC’s investment portfolio, making the stock its 16th largest holding. Americana Partners LLC’s holdings in Adobe were worth $20,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Shepherd Financial Partners LLC lifted its position in shares of Adobe by 0.8% during the 3rd quarter. Shepherd Financial Partners LLC now owns 5,096 shares of the software company’s stock valued at $2,639,000 after acquiring an additional 41 shares during the period. Interchange Capital Partners LLC increased its holdings in Adobe by 8.9% during the 3rd quarter. Interchange Capital Partners LLC now owns 2,295 shares of the software company’s stock worth $1,189,000 after purchasing an additional 187 shares in the last quarter. Lebenthal Global Advisors LLC lifted its position in shares of Adobe by 3.5% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 2,005 shares of the software company’s stock worth $1,038,000 after buying an additional 67 shares in the last quarter. Absher Wealth Management LLC increased its stake in shares of Adobe by 1.3% during the 3rd quarter. Absher Wealth Management LLC now owns 2,521 shares of the software company’s stock worth $1,305,000 after purchasing an additional 33 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in Adobe by 1.7% during the third quarter. Principal Securities Inc. now owns 15,652 shares of the software company’s stock valued at $8,105,000 after purchasing an additional 268 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Piper Sandler Companies restated an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday, July 12th. Sanford C. Bernstein decreased their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Argus raised shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus upped their target price on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Buying and Selling

In other news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction on Tuesday, September 17th. The shares were 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 of the company’s stock, 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 SEC, which is available at this hyperlink. In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction 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 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, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was 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 of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is owned by insiders.

Adobe Stock Up 1.1 %

ADBE stock traded up $5.21 during midday trading on Friday, reaching $483.29. 1,254,619 shares of the company’s stock traded hands, compared to its average volume of 3,168,452. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a market cap of $212.74 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 2.51 and a beta of 1.29. The firm’s fifty day moving average price is $523.68 and its 200-day moving average price is $515.55. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 25.59% and a return on equity of 42.82%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.26 EPS. As a group, sell-side analysts forecast that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Adobe Company 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.