Blue Square Asset Management LLC Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

Blue Square Asset Management LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 3.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,942 shares of the software company’s stock after acquiring an additional 174 shares during the quarter. Adobe makes up about 1.4% of Blue Square Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Blue Square Asset Management LLC’s holdings in Adobe were worth $2,559,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ADBE. Salomon & Ludwin LLC increased its stake in Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after acquiring an additional 45 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. grew its stake in shares of Adobe by 5.7% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 2,124 shares of the software company’s stock valued at $1,072,000 after buying an additional 115 shares in the last quarter. RiverPark Advisors LLC grew its stake in shares of Adobe by 10.7% in the first quarter. RiverPark Advisors LLC now owns 3,449 shares of the software company’s stock valued at $1,740,000 after buying an additional 333 shares in the last quarter. Boomfish Wealth Group LLC grew its stake in shares of Adobe by 5.0% in the first quarter. Boomfish Wealth Group LLC now owns 4,264 shares of the software company’s stock valued at $2,152,000 after buying an additional 204 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Adobe by 3.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 113,996 shares of the software company’s stock valued at $57,522,000 after buying an additional 4,257 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Adobe news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADBE. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a research note on Friday, September 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research note on Friday, September 13th. Piper Sandler Companies reiterated an “overweight” rating and issued a $635.00 target price on shares of Adobe in a report on Friday, July 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $610.00 target price on shares of Adobe in a report on Tuesday, October 15th. Finally, Argus upgraded Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Stock Performance

Shares of ADBE stock opened at $482.80 on Monday. 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 $212.53 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. The stock has a 50 day simple moving average of $522.17 and a 200-day simple moving average of $516.20. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the firm earned $3.26 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Adobe Inc. will post 14.82 EPS for the current year.

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.