Strategic Blueprint LLC Has $1.26 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Strategic Blueprint LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,442 shares of the software company’s stock after selling 87 shares during the period. Strategic Blueprint LLC’s holdings in Adobe were worth $1,264,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Farmers & Merchants Investments Inc. raised its holdings in Adobe by 69.2% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 621 shares of the software company’s stock worth $313,000 after purchasing an additional 254 shares during the last quarter. Tradewinds Capital Management LLC increased its position in shares of Adobe by 266.7% during the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after buying an additional 40 shares during the period. Valeo Financial Advisors LLC raised its stake in Adobe by 8.0% during the first quarter. Valeo Financial Advisors LLC now owns 5,563 shares of the software company’s stock worth $2,807,000 after buying an additional 413 shares during the last quarter. Mainsail Financial Group LLC lifted its holdings in Adobe by 2.3% in the first quarter. Mainsail Financial Group LLC now owns 2,149 shares of the software company’s stock valued at $1,084,000 after buying an additional 49 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its position in Adobe by 7.0% during the first quarter. First Trust Direct Indexing L.P. now owns 9,457 shares of the software company’s stock valued at $4,772,000 after acquiring an additional 619 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein dropped their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Oppenheimer reissued an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research note on Friday, September 13th. UBS Group reduced their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Citigroup boosted their target price on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Price Performance

ADBE opened at $485.39 on Wednesday. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The firm has a 50-day moving average of $526.85 and a 200 day moving average of $516.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $215.22 billion, a P/E ratio of 43.61, a PEG ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion during 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 was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.26 EPS. On average, research analysts expect that Adobe Inc. will post 14.8 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,511 shares of company stock valued at $17,408,530 over the last ninety days. 0.15% of the stock is currently owned by insiders.

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.