JB Capital LLC Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

JB Capital LLC increased its position in Adobe Inc. (NASDAQ:ADBE) by 25.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 677 shares of the software company’s stock after acquiring an additional 137 shares during the period. JB Capital LLC’s holdings in Adobe were worth $351,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Piscataqua Savings Bank lifted 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 acquiring an additional 34 shares in the last quarter. Summit Securities Group LLC purchased a new position in Adobe in the 2nd quarter valued at about $33,000. Highline Wealth Partners LLC acquired a new stake in shares of Adobe during the 3rd quarter worth about $38,000. Lynx Investment Advisory purchased a new stake in shares of Adobe during the second quarter worth about $39,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Adobe in the second quarter valued at approximately $39,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s 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 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 a total of 34,187 shares of company stock valued at $17,736,369 over the last three months. Insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.8 %

ADBE opened at $500.92 on Friday. The stock 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 has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The firm’s fifty day moving average price is $517.87 and its 200 day moving average price is $516.33.

Adobe (NASDAQ:ADBE) last issued its 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. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.26 earnings per share. As a group, research analysts expect that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ADBE. Argus raised shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group dropped their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 target price on shares of Adobe in a research report on Tuesday, October 15th. Stifel Nicolaus upped their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.