Janney Montgomery Scott LLC Has $45.21 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Janney Montgomery Scott LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,662 shares of the software company’s stock after buying an additional 4,686 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Adobe were worth $45,209,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Adobe in the 4th quarter valued at approximately $1,757,029,000. Capital Research Global Investors grew its position in shares of Adobe by 4,186.1% in the 2nd quarter. Capital Research Global Investors now owns 3,859,163 shares of the software company’s stock valued at $1,887,092,000 after purchasing an additional 3,769,125 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Adobe by 115,991.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,248,225 shares of the software company’s stock valued at $1,093,125,000 after purchasing an additional 3,245,427 shares during the period. Morgan Stanley grew its position in shares of Adobe by 17.7% in the 4th quarter. Morgan Stanley now owns 9,804,275 shares of the software company’s stock valued at $3,299,433,000 after purchasing an additional 1,471,861 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Adobe in the 2nd quarter valued at approximately $731,960,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In related news, CEO Shantanu Narayen sold 32,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $598.28, for a total value of $19,144,960.00. Following the sale, the chief executive officer now directly owns 377,928 shares of the company’s stock, valued at $226,106,763.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Adobe news, CEO Shantanu Narayen sold 32,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $598.28, for a total value of $19,144,960.00. Following the completion of the transaction, the chief executive officer now directly owns 377,928 shares in the company, valued at $226,106,763.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 263 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $591.80, for a total value of $155,643.40. Following the completion of the transaction, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at $2,399,749. The disclosure for this sale can be found here. Insiders have sold 44,425 shares of company stock valued at $26,431,673 over the last ninety days. 0.24% of the stock is owned by corporate insiders.

Adobe Stock Down 0.7 %

ADBE opened at $630.50 on Tuesday. Adobe Inc. has a 1-year low of $318.60 and a 1-year high of $638.25. The stock’s fifty day simple moving average is $603.24 and its 200 day simple moving average is $565.01. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.22. The stock has a market cap of $284.99 billion, a PE ratio of 53.39, a price-to-earnings-growth ratio of 3.34 and a beta of 1.34.

Adobe (NASDAQ:ADBEGet Free Report) last posted its quarterly earnings results on Wednesday, December 13th. The software company reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.13 by $0.14. The business had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Adobe had a return on equity of 38.30% and a net margin of 27.97%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.78 EPS. As a group, research analysts expect that Adobe Inc. will post 14.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ADBE shares. Piper Sandler boosted their price objective on Adobe from $650.00 to $705.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $615.00 price target on shares of Adobe in a research report on Thursday, December 14th. BNP Paribas downgraded Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price target for the company. in a research report on Thursday, January 18th. Stifel Nicolaus upped their price target on Adobe from $600.00 to $625.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Finally, BMO Capital Markets upped their price target on Adobe from $670.00 to $690.00 and gave the stock an “outperform” rating in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $613.14.

View Our Latest Analysis on Adobe

About Adobe

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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