June 18, 2024
Adobe logo with Computer and Technology background

Comerica Financial institution acquired a brand new place in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) within the 2nd quarter, in accordance with its most up-to-date submitting with the Securities & Trade Fee. The fund acquired 45,420 shares of the software program firm’s inventory, valued at roughly $22,210,000.

Different institutional traders additionally just lately purchased and offered shares of the corporate. VELA Funding Administration LLC lifted its place in shares of Adobe by 122.2% in the course of the first quarter. VELA Funding Administration LLC now owns 1,958 shares of the software program firm’s inventory price $892,000 after buying an extra 1,077 shares within the final quarter. Bornite Capital Administration LP acquired a brand new place in shares of Adobe in the course of the first quarter price $15,947,000. United Financial institution lifted its place in shares of Adobe by 34.7% in the course of the first quarter. United Financial institution now owns 2,109 shares of the software program firm’s inventory price $961,000 after buying an extra 543 shares within the final quarter. Mirae Asset International Investments Co. Ltd. lifted its place in shares of Adobe by 21.0% in the course of the first quarter. Mirae Asset International Investments Co. Ltd. now owns 525,897 shares of the software program firm’s inventory price $239,609,000 after buying an extra 91,328 shares within the final quarter. Lastly, Ergoteles LLC lifted its place in shares of Adobe by 138.3% in the course of the first quarter. Ergoteles LLC now owns 6,651 shares of the software program firm’s inventory price $3,030,000 after buying an extra 3,860 shares within the final quarter. 80.00% of the inventory is presently owned by hedge funds and different institutional traders.

Adobe Inventory Efficiency

NASDAQ:ADBE opened at $584.68 on Friday. Adobe Inc. has a twelve month low of $318.60 and a twelve month excessive of $633.89. The corporate has a present ratio of 1.25, a fast ratio of 1.25 and a debt-to-equity ratio of 0.23. The corporate has a 50-day shifting common of $579.61 and a 200-day shifting common of $534.22. The agency has a market cap of $266.20 billion, a price-to-earnings ratio of 49.51, a price-to-earnings-growth ratio of three.22 and a beta of 1.34.

Adobe (NASDAQ:ADBE – Get Free Report) final posted its quarterly earnings information on Wednesday, December thirteenth. The software program firm reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.13 by $0.14. Adobe had a internet margin of 27.97% and a return on fairness of 39.31%. The corporate had income of $5.05 billion in the course of the quarter, in comparison with analyst estimates of $5.01 billion. Throughout the identical quarter final yr, the agency posted $2.78 EPS. The enterprise’s income for the quarter was up 11.6% on a year-over-year foundation. Analysts forecast that Adobe Inc. will put up 14.34 earnings per share for the present fiscal yr.

Analysts Set New Worth Targets

ADBE has been the subject of a number of current analyst studies. The Goldman Sachs Group upped their value goal on shares of Adobe from $550.00 to $625.00 and gave the corporate a “purchase” score in a report on Friday, September fifteenth. Oppenheimer raised shares of Adobe from a “market carry out” score to an “outperform” score and set a $660.00 value goal on the inventory in a report on Thursday, October twenty sixth. Evercore ISI upped their value goal on shares of Adobe from $590.00 to $605.00 and gave the corporate an “outperform” score in a report on Friday, September fifteenth. Wolfe Analysis elevated their goal value on shares of Adobe from $580.00 to $650.00 and gave the inventory an “outperform” score in a report on Friday, September fifteenth. Lastly, Piper Sandler reissued an “chubby” score and set a $650.00 goal value on shares of Adobe in a report on Thursday. Seven equities analysis analysts have rated the inventory with a maintain score and twenty-one have issued a purchase score to the inventory. In keeping with information from MarketBeat.com, Adobe presently has a mean score of “Average Purchase” and a mean value goal of $613.11.

Examine Out Our Newest Evaluation on ADBE

Insider Shopping for and Promoting at Adobe

In different Adobe information, EVP Scott Belsky offered 1,991 shares of the corporate’s inventory in a transaction dated Tuesday, October twenty fourth. The shares have been offered at a mean value of $544.39, for a complete transaction of $1,083,880.49. Following the completion of the sale, the chief vp now straight owns 21,467 shares of the corporate’s inventory, valued at $11,686,420.13. The transaction was disclosed in a authorized submitting with the Securities & Trade Fee, which is out there via this hyperlink. In different Adobe information, CAO Mark S. Garfield offered 96 shares of the corporate’s inventory in a transaction dated Monday, October sixteenth. The shares have been offered at a mean value of $553.18, for a complete transaction of $53,105.28. Following the completion of the sale, the chief accounting officer now straight owns 4,055 shares of the corporate’s inventory, valued at $2,243,144.90. The transaction was disclosed in a authorized submitting with the Securities & Trade Fee, which is out there via this hyperlink. Additionally, EVP Scott Belsky offered 1,991 shares of the inventory in a transaction that occurred on Tuesday, October twenty fourth. The inventory was offered at a mean value of $544.39, for a complete transaction of $1,083,880.49. Following the completion of the sale, the chief vp now straight owns 21,467 shares of the corporate’s inventory, valued at $11,686,420.13. The disclosure for this sale may be discovered right here. During the last ninety days, insiders offered 2,467 shares of firm inventory valued at $1,337,400. 0.24% of the inventory is presently owned by company insiders.

Adobe Profile

(Free Report)

Adobe Inc, along with its subsidiaries, operates as a diversified software program firm worldwide. It operates via three segments: Digital Media, Digital Expertise, and Publishing and Promoting. The Digital Media section gives merchandise, companies, and options that allow people, groups, and enterprises to create, publish, and promote content material; and Doc Cloud, a unified cloud-based doc companies platform.

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Need to see what different hedge funds are holding ADBE? Go to HoldingsChannel.com to get the newest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE – Free Report).

Institutional Possession by Quarter for Adobe <span class=NASDAQ: ADBE” width=”650″ top=”350″ loading=”lazy”>

This immediate information alert was generated by narrative science know-how and monetary information from MarketBeat to be able to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial crew previous to publication. Please ship any questions or feedback about this story to [email protected].

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