Forsta AP Fonden Purchases 8,600 Shares of Adobe Inc. (NASDAQ:ADBE)

Forsta AP Fonden grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 7.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 127,800 shares of the software company’s stock after acquiring an additional 8,600 shares during the period. Adobe comprises 0.5% of Forsta AP Fonden’s holdings, making the stock its 29th largest holding. Forsta AP Fonden’s holdings in Adobe were worth $66,172,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Onyx Bridge Wealth Group LLC increased its position in Adobe by 3.9% in the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after buying an additional 19 shares in the last quarter. HTLF Bank increased its position in Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after buying an additional 19 shares in the last quarter. Commonwealth Financial Services LLC increased its position in Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after buying an additional 19 shares in the last quarter. Orrstown Financial Services Inc. increased its position in Adobe by 0.9% in the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock worth $1,257,000 after buying an additional 20 shares in the last quarter. Finally, Orser Capital Management LLC increased its position in Adobe by 0.3% in the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after buying an additional 20 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Adobe news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were 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 position. The disclosure for this sale can be found here. Insiders sold a total of 33,030 shares of company stock valued at $17,176,005 over the last three months. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADBE shares. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and set a $635.00 target price on shares of Adobe in a research note on Friday, September 13th. Piper Sandler Companies reissued an “overweight” rating and set a $635.00 target price on shares of Adobe in a research note on Friday, July 12th. Finally, Sanford C. Bernstein reduced 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Trading Up 0.2 %

ADBE traded up $0.85 during trading hours on Friday, reaching $483.72. 2,426,769 shares of the company’s stock traded hands, compared to its average volume of 3,190,407. The firm has a 50-day moving average price of $530.03 and a 200 day moving average price of $515.60. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $214.48 billion, a PE ratio of 43.46, a PEG ratio of 2.55 and a beta of 1.29.

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, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the business earned $3.26 EPS. Adobe’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that Adobe Inc. will post 14.8 EPS for the current fiscal year.

About Adobe

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.