297 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Fairfield Financial Advisors LTD

Fairfield Financial Advisors LTD purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 297 shares of the software company’s stock, valued at approximately $165,000.

Several other institutional investors have also recently made changes to their positions in ADBE. Onyx Bridge Wealth Group LLC lifted its position in shares of Adobe by 3.9% during the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after buying an additional 19 shares during the last quarter. HTLF Bank boosted its stake in Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after acquiring an additional 19 shares in the last quarter. Visionary Wealth Advisors grew its holdings in Adobe by 1.0% in the fourth quarter. Visionary Wealth Advisors now owns 1,962 shares of the software company’s stock worth $1,171,000 after purchasing an additional 20 shares during the last quarter. Orrstown Financial Services Inc. increased its position in shares of Adobe by 0.9% during the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock worth $1,257,000 after purchasing an additional 20 shares in the last quarter. Finally, Orser Capital Management LLC lifted its holdings in shares of Adobe by 0.3% during the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock valued at $3,815,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADBE. BMO Capital Markets upped their target price on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday. Piper Sandler Companies reissued an “overweight” rating and set a $635.00 target price on shares of Adobe in a research report on Friday, July 12th. Citigroup raised their price target on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, Piper Sandler reissued an “overweight” rating and set a $635.00 price objective on shares of Adobe in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $606.58.

Adobe Price Performance

Shares of Adobe stock opened at $536.87 on Monday. The firm has a market cap of $238.05 billion, a PE ratio of 48.24, a P/E/G ratio of 3.03 and a beta of 1.29. The business has a 50-day moving average price of $553.76 and a 200 day moving average price of $519.73. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company posted $3.26 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts predict that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $560.23, for a total transaction of $857,151.90. Following the completion of the sale, the executive vice president now owns 20,359 shares of the company’s stock, valued at $11,405,722.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $560.23, for a total transaction of $857,151.90. Following the completion of the sale, the executive vice president now directly owns 20,359 shares in the company, valued at $11,405,722.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the transaction, the chief executive officer now owns 379,660 shares in the company, valued at approximately $206,576,802.60. The disclosure for this sale can be found here. Insiders have sold a total of 27,259 shares of company stock valued at $14,855,543 over the last ninety days. Corporate 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.