Northern Financial Advisors Inc Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

Northern Financial Advisors Inc increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 19.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 922 shares of the software company’s stock after purchasing an additional 150 shares during the quarter. Northern Financial Advisors Inc’s holdings in Adobe were worth $477,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Piscataqua Savings Bank raised its stake in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Salomon & Ludwin LLC raised its position in Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC purchased a new position in Adobe during the second quarter valued at approximately $33,000. Lynx Investment Advisory acquired a new position in Adobe in the second quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Adobe in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADBE. Stifel Nicolaus lifted their target price on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. UBS Group cut their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 target price on shares of Adobe in a research note on Tuesday, October 15th. Barclays lifted their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Two 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $606.40.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares in the company, valued at $9,675,744.42. 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 is available at the SEC website. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 357,700 shares in the company, valued at $186,569,166. 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, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the transaction, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,187 shares of company stock worth $17,736,369. Insiders own 0.15% of the company’s stock.

Adobe Stock Up 1.0 %

NASDAQ ADBE opened at $482.80 on Friday. The business’s fifty day simple moving average is $522.17 and its 200-day simple moving average is $515.91. 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 firm has a market cap of $212.53 billion, a PE ratio of 40.78, a P/E/G ratio of 2.51 and a beta of 1.29. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its 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. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm earned $3.26 earnings per share. Adobe’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current 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.