Brooklyn Investment Group Purchases 174 Shares of Adobe Inc. (NASDAQ:ADBE)

Brooklyn Investment Group lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,321 shares of the software company’s stock after purchasing an additional 174 shares during the period. Brooklyn Investment Group’s holdings in Adobe were worth $1,720,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Silvercrest Asset Management Group LLC lifted its position in shares of Adobe by 3.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 12,112 shares of the software company’s stock worth $6,112,000 after acquiring an additional 361 shares during the period. Waverly Advisors LLC raised its stake in shares of Adobe by 185.3% in the first quarter. Waverly Advisors LLC now owns 3,486 shares of the software company’s stock valued at $1,759,000 after purchasing an additional 2,264 shares in the last quarter. Global Financial Private Client LLC boosted its stake in Adobe by 9.7% during the first quarter. Global Financial Private Client LLC now owns 261 shares of the software company’s stock worth $131,000 after buying an additional 23 shares in the last quarter. Redwood Investment Management LLC bought a new position in shares of Adobe during the 1st quarter worth about $403,000. Finally, Creekmur Asset Management LLC boosted its position in shares of Adobe by 33.1% during the 1st quarter. Creekmur Asset Management LLC now owns 326 shares of the software company’s stock valued at $164,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 481 shares of the business’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 sale, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Up 1.3 %

Shares of NASDAQ ADBE opened at $518.73 on Tuesday. The company’s 50 day simple moving average is $503.08 and its 200 day simple moving average is $519.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $228.34 billion, a P/E ratio of 43.81, a P/E/G ratio of 2.64 and a beta of 1.30. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 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 business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the company posted $3.26 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Adobe Inc. will post 14.82 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ADBE shares. Oppenheimer reissued an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research note on Friday, September 13th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, Bank of America reissued a “buy” rating and issued a $640.00 target price on shares of Adobe in a report on Friday, September 13th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

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.