Hills Bank & Trust Co Sells 86 Shares of Adobe Inc. (NASDAQ:ADBE)

Hills Bank & Trust Co decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,228 shares of the software company’s stock after selling 86 shares during the period. Hills Bank & Trust Co’s holdings in Adobe were worth $3,743,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ADBE. Piscataqua Savings Bank raised its position in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Salomon & Ludwin LLC increased its holdings in shares of Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after buying an additional 45 shares during the period. Summit Securities Group LLC bought a new stake in shares of Adobe in the 2nd quarter valued at about $33,000. Highline Wealth Partners LLC purchased a new stake in Adobe during the 3rd quarter valued at about $38,000. Finally, Lynx Investment Advisory bought a new position in Adobe during the 2nd quarter worth approximately $39,000. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock worth $17,736,369 in the last three months. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADBE. Barclays increased their price objective on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. UBS Group decreased their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Piper Sandler Companies reiterated an “overweight” rating and set a $635.00 target price on shares of Adobe in a report on Friday, July 12th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $635.00 price objective 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 issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Performance

Shares of ADBE opened at $478.08 on Friday. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. 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 stock has a market cap of $210.45 billion, a price-to-earnings ratio of 40.38, a PEG ratio of 2.51 and a beta of 1.29. The business has a 50-day simple moving average of $523.68 and a two-hundred day simple moving average of $515.55.

Adobe (NASDAQ:ADBE) last issued 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 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 company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.26 earnings per share. On average, analysts expect that Adobe Inc. will post 14.82 EPS for the current year.

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.