Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Busey Bank

Busey Bank increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,282 shares of the software company’s stock after acquiring an additional 459 shares during the quarter. Busey Bank’s holdings in Adobe were worth $17,468,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Onyx Bridge Wealth Group LLC raised its position in shares of Adobe by 4.0% during the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after purchasing an additional 20 shares during the period. Connable Office Inc. increased its stake in Adobe by 0.5% in the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after purchasing an additional 20 shares in the last quarter. 1ST Source Bank raised its holdings in Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after buying an additional 20 shares during the period. James J. Burns & Company LLC lifted its stake in Adobe by 5.6% during the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock valued at $215,000 after buying an additional 22 shares in the last quarter. Finally, Holistic Financial Partners boosted its holdings in shares of Adobe by 6.0% in the third quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock worth $200,000 after buying an additional 22 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 0.3 %

ADBE stock opened at $441.68 on Thursday. The business’s 50-day simple moving average is $465.79 and its 200 day simple moving average is $505.60. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $192.26 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.52 earnings per share. On average, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America reduced their target price on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Sanford C. Bernstein decreased their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, UBS Group dropped their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $573.00.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Company 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.