JB Capital LLC Purchases 137 Shares of Adobe Inc. (NASDAQ:ADBE)

JB Capital LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 677 shares of the software company’s stock after purchasing an additional 137 shares during the quarter. JB Capital LLC’s holdings in Adobe were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Piscataqua Savings Bank lifted its stake in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. Summit Securities Group LLC bought a new position in shares of Adobe in the 2nd quarter worth $33,000. Lynx Investment Advisory acquired a new stake in shares of Adobe during the second quarter worth $39,000. Hobbs Group Advisors LLC bought a new stake in Adobe in the second quarter valued at about $39,000. Finally, Highline Wealth Partners LLC bought a new stake in Adobe in the third quarter valued at about $38,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe 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 sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,187 shares of company stock worth $17,736,369. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ADBE. Morgan Stanley restated an “overweight” rating and set a $660.00 target price on shares of Adobe in a research report on Friday, September 13th. Barclays upped their target price on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Oppenheimer reissued an “outperform” rating and issued a $625.00 price target on shares of Adobe in a report on Friday, September 13th. Piper Sandler reaffirmed an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, Argus raised Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Down 0.8 %

Adobe stock opened at $500.92 on Friday. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The firm has a market capitalization of $220.50 billion, a PE ratio of 42.31, a P/E/G ratio of 2.48 and a beta of 1.30. The company’s 50-day moving average is $517.87 and its 200-day moving average is $516.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

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, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the business earned $3.26 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current 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.