Vista Capital Partners Inc. Buys New Shares in Adobe Inc. (NASDAQ:ADBE)

Vista Capital Partners Inc. bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 3rd quarter, Holdings Channel reports. The fund bought 474 shares of the software company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Piscataqua Savings Bank raised its position in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Summit Securities Group LLC bought a new position in shares of Adobe in the second quarter worth approximately $33,000. Highline Wealth Partners LLC purchased a new position in shares of Adobe in the third quarter worth $38,000. Lynx Investment Advisory bought a new position in shares of Adobe during the second quarter valued at about $39,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Adobe during the second quarter worth about $39,000. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were 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 owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Adobe news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 of the company’s stock, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Adobe Stock Down 0.8 %

Shares of NASDAQ ADBE opened at $500.92 on Friday. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The stock has a market cap 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 has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $517.87 and a 200 day moving average of $516.33.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating 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 analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the company posted $3.26 earnings per share. Adobe’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADBE. Sanford C. Bernstein cut their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Piper Sandler Companies restated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Finally, Argus raised shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average price target of $606.40.

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.