Nicolet Bankshares Inc. Sells 1,419 Shares of Adobe Inc. (NASDAQ:ADBE)

Nicolet Bankshares Inc. lowered its position in Adobe Inc. (NASDAQ:ADBEFree Report) by 25.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,198 shares of the software company’s stock after selling 1,419 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Adobe were worth $2,141,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC bought a new position in shares of Adobe during the third quarter valued at approximately $25,000. HBC Financial Services PLLC purchased a new position in shares of Adobe during the 3rd quarter worth $25,000. Global Wealth Strategies & Associates raised its position in shares of Adobe by 57.6% during the 3rd quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock valued at $27,000 after purchasing an additional 19 shares during the period. Financial Freedom LLC bought a new stake in Adobe in the 4th quarter valued at $29,000. Finally, Halpern Financial Inc. increased its holdings in Adobe by 314.3% in the 3rd quarter. Halpern Financial Inc. now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.

Adobe Trading Down 2.1 %

Shares of NASDAQ:ADBE traded down $12.95 during midday trading on Monday, reaching $614.26. The company’s stock had a trading volume of 1,262,704 shares, compared to its average volume of 2,501,521. The firm has a market capitalization of $277.65 billion, a price-to-earnings ratio of 53.24, a PEG ratio of 3.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50 day moving average price of $603.28 and a two-hundred day moving average price of $567.70. Adobe Inc. has a fifty-two week low of $318.60 and a fifty-two week high of $638.25.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BMO Capital Markets lifted their price target on shares of Adobe from $670.00 to $690.00 and gave the stock an “outperform” rating in a research note on Friday, December 8th. DA Davidson upgraded shares of Adobe from a “neutral” rating to a “buy” rating and upped their price target for the company from $500.00 to $640.00 in a research note on Thursday, October 26th. BNP Paribas lowered shares of Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price objective on the stock. in a research note on Thursday, January 18th. Piper Sandler increased their price target on shares of Adobe from $650.00 to $705.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus increased their target price on shares of Adobe from $600.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $613.14.

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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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