Lindenwold Advisors Has $1.97 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Lindenwold Advisors increased its stake in shares of Adobe Inc. (NASDAQ:ADBEGet Rating) by 35.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,332 shares of the software company’s stock after buying an additional 1,124 shares during the period. Adobe accounts for about 1.2% of Lindenwold Advisors’ portfolio, making the stock its 25th largest holding. Lindenwold Advisors’ holdings in Adobe were worth $1,974,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its position in Adobe by 3.3% during the 4th quarter. BlackRock Inc. now owns 37,526,571 shares of the software company’s stock worth $21,279,818,000 after purchasing an additional 1,212,093 shares in the last quarter. State Street Corp increased its position in Adobe by 3.4% in the 4th quarter. State Street Corp now owns 19,551,566 shares of the software company’s stock valued at $11,086,911,000 after acquiring an additional 643,656 shares during the period. Geode Capital Management LLC increased its position in shares of Adobe by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 8,597,416 shares of the software company’s stock worth $4,863,475,000 after buying an additional 211,062 shares during the period. Fisher Asset Management LLC increased its position in shares of Adobe by 4.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,739,460 shares of the software company’s stock worth $3,821,679,000 after buying an additional 304,991 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Adobe by 8.8% during the fourth quarter. Alliancebernstein L.P. now owns 5,269,102 shares of the software company’s stock worth $2,987,897,000 after buying an additional 427,550 shares during the period. Institutional investors own 82.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADBE shares. Bank of America cut their target price on shares of Adobe from $560.00 to $450.00 and set a “buy” rating on the stock in a research note on Friday, June 17th. Piper Sandler lowered their target price on shares of Adobe from $545.00 to $430.00 and set an “overweight” rating for the company in a report on Friday, June 17th. Oppenheimer decreased their price objective on shares of Adobe from $560.00 to $400.00 and set an “outperform” rating for the company in a report on Friday, June 17th. Stifel Nicolaus decreased their price objective on shares of Adobe from $600.00 to $500.00 in a report on Friday, June 17th. Finally, Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $591.00 to $362.00 in a research note on Tuesday, June 21st. Six equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $489.31.

Adobe Stock Up 0.7 %

NASDAQ ADBE traded up $3.08 during trading on Friday, hitting $433.67. The company’s stock had a trading volume of 90,927 shares, compared to its average volume of 2,249,972. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $202.96 billion, a PE ratio of 41.97, a P/E/G ratio of 2.34 and a beta of 1.12. The business’s 50 day simple moving average is $392.89 and its 200-day simple moving average is $428.29. Adobe Inc. has a fifty-two week low of $338.00 and a fifty-two week high of $699.54.

Adobe (NASDAQ:ADBEGet Rating) last released its earnings results on Thursday, June 16th. The software company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.05. Adobe had a return on equity of 36.70% and a net margin of 29.29%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the company posted $2.56 earnings per share. On average, equities analysts anticipate that Adobe Inc. will post 10.99 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 132 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $409.75, for a total value of $54,087.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,465 shares of the company’s stock, valued at $1,010,033.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Ann Lewnes sold 794 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $400.00, for a total value of $317,600.00. Following the completion of the sale, the chief marketing officer now directly owns 23,988 shares in the company, valued at $9,595,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 132 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $409.75, for a total value of $54,087.00. Following the sale, the chief accounting officer now owns 2,465 shares of the company’s stock, valued at $1,010,033.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,637 shares of company stock valued at $1,438,682. 0.23% of the stock is owned by company insiders.

Adobe Profile

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Adobe Inc 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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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