Adobe Inc. (NASDAQ:ADBE) Stock Holdings Increased by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. raised its stake in Adobe Inc. (NASDAQ:ADBE) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 320 shares of the software company’s stock after buying an additional 57 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in Adobe were worth $165,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ADBE. Onyx Bridge Wealth Group LLC boosted its position in Adobe by 3.9% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after acquiring an additional 19 shares during the last quarter. HTLF Bank grew its position in Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in Adobe by 3.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after buying an additional 19 shares during the last quarter. Orrstown Financial Services Inc. lifted its position in Adobe by 0.9% during the 2nd 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 boosted its stake in shares of Adobe by 0.3% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the transaction, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. This represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 23.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock valued at $17,736,369 over the last quarter. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $513.68 on Thursday. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. 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 company has a market cap of $226.12 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 2.67 and a beta of 1.30. The firm has a 50 day simple moving average of $503.39 and a 200 day simple moving average of $519.76.

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

Analyst Ratings Changes

ADBE has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Bank of America reiterated a “buy” rating and set a $640.00 price target on shares of Adobe in a report on Friday, September 13th. Piper Sandler restated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $610.00 target price on shares of Adobe in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe 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.