Dakota Community Bank & Trust NA Increases Stock Position in Adobe Inc. (NASDAQ:ADBE)

Dakota Community Bank & Trust NA grew its holdings in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 18.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 228 shares of the software company’s stock after purchasing an additional 35 shares during the period. Dakota Community Bank & Trust NA’s holdings in Adobe were worth $101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Intech Investment Management LLC lifted its stake in shares of Adobe by 20.1% in the second quarter. Intech Investment Management LLC now owns 41,818 shares of the software company’s stock worth $23,232,000 after buying an additional 6,985 shares in the last quarter. Brighton Jones LLC lifted its position in Adobe by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 8,126 shares of the software company’s stock valued at $4,514,000 after acquiring an additional 142 shares in the last quarter. Ieq Capital LLC boosted its stake in Adobe by 5.4% during the 2nd quarter. Ieq Capital LLC now owns 50,681 shares of the software company’s stock valued at $28,155,000 after purchasing an additional 2,575 shares during the last quarter. Wealth Advisors of Tampa Bay LLC increased its holdings in shares of Adobe by 37.8% in the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 4,959 shares of the software company’s stock worth $2,755,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Promethos Capital LLC raised its stake in shares of Adobe by 234.8% in the second quarter. Promethos Capital LLC now owns 7,405 shares of the software company’s stock worth $4,114,000 after purchasing an additional 5,193 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a report on Wednesday. BMO Capital Markets decreased their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and dropped their target price for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Finally, Citigroup decreased their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Get Our Latest Analysis on ADBE

Adobe Stock Up 0.7 %

ADBE opened at $429.99 on Friday. The stock has a market cap of $189.28 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07. The firm’s fifty day moving average is $477.84 and its 200 day moving average is $513.73. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBEGet Free Report) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the business earned $3.52 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.

Further Reading

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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