Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Arlington Trust Co LLC

Arlington Trust Co LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,807 shares of the software company’s stock after purchasing an additional 150 shares during the period. Arlington Trust Co LLC’s holdings in Adobe were worth $1,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ADBE. Vanguard Group Inc. grew its stake in shares of Adobe by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after buying an additional 382,803 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Adobe by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after acquiring an additional 1,146,718 shares during the period. Norges Bank acquired a new stake in Adobe in the fourth quarter valued at approximately $3,277,785,000. Concentrum Wealth Management raised its stake in shares of Adobe by 11.3% during the fourth quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock valued at $1,435,194,000 after purchasing an additional 244,008 shares during the period. Finally, Brown Advisory Inc. lifted its position in shares of Adobe by 5.4% during the fourth quarter. Brown Advisory Inc. now owns 2,388,198 shares of the software company’s stock worth $1,424,799,000 after purchasing an additional 122,738 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 0.8 %

Shares of NASDAQ ADBE opened at $563.41 on Friday. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a market cap of $249.82 billion, a price-to-earnings ratio of 50.62, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $553.72 and its 200 day simple moving average is $519.22.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the business posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts expect that Adobe Inc. will post 14.69 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a report on Friday, June 14th. Barclays lifted their target price on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI reissued an “outperform” rating and issued a $650.00 price target on shares of Adobe in a report on Friday, June 7th. Piper Sandler lowered their price objective on Adobe from $700.00 to $635.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Stifel Nicolaus upped their target price on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $605.52.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the sale, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the sale, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The disclosure for this sale can be found here. Insiders sold 27,523 shares of company stock valued at $14,994,277 in the last ninety days. Company insiders own 0.15% of the company’s stock.

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.