M3 Advisory Group LLC Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

M3 Advisory Group LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 14.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 553 shares of the software company’s stock after buying an additional 68 shares during the period. M3 Advisory Group LLC’s holdings in Adobe were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Adobe by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after buying an additional 382,803 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Adobe by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares during the period. Principal Financial Group Inc. lifted its position in shares of Adobe by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock worth $1,097,475,000 after purchasing an additional 12,065 shares during the period. Clearbridge Investments LLC lifted its position in shares of Adobe by 0.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock worth $1,097,044,000 after purchasing an additional 15,685 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Adobe by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock worth $945,780,000 after purchasing an additional 185,737 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,501,989. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Adobe news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $258,297.00. Following the transaction, the executive vice president now directly owns 19,658 shares in the company, valued at approximately $10,556,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,608 shares of company stock valued at $17,486,391. 0.15% of the stock is owned by company insiders.

Adobe Stock Down 0.1 %

Shares of NASDAQ ADBE traded down $0.34 during midday trading on Friday, hitting $496.49. The company’s stock had a trading volume of 484,307 shares, compared to its average volume of 3,209,275. The business’s fifty day simple moving average is $536.28 and its two-hundred day simple moving average is $515.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The firm has a market capitalization of $220.14 billion, a price-to-earnings ratio of 44.64, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the firm earned $3.26 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts predict that Adobe Inc. will post 14.8 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the subject of several research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein reduced their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Piper Sandler Companies restated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, UBS Group cut their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

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.