Allspring Global Investments Holdings LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE – Get Rating) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,034 shares of the software company’s stock after purchasing an additional 12,263 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Adobe were worth $54,529,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Aries Wealth Management boosted its stake in shares of Adobe by 24.9% in the 3rd quarter. Aries Wealth Management now owns 747 shares of the software company’s stock worth $238,000 after buying an additional 149 shares during the last quarter. Integrated Investment Consultants LLC lifted its holdings in Adobe by 9.3% in the third quarter. Integrated Investment Consultants LLC now owns 881 shares of the software company’s stock valued at $242,000 after acquiring an additional 75 shares during the period. US Bancorp DE boosted its position in Adobe by 8.3% in the third quarter. US Bancorp DE now owns 166,196 shares of the software company’s stock worth $45,737,000 after purchasing an additional 12,676 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Adobe by 57.3% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,323,561 shares of the software company’s stock valued at $364,245,000 after purchasing an additional 482,400 shares during the period. Finally, Bridgefront Capital LLC purchased a new stake in shares of Adobe during the 3rd quarter valued at about $225,000. Hedge funds and other institutional investors own 79.36% of the company’s stock.
Insider Buying and Selling
In other Adobe news, Director John E. Warnock sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $357.91, for a total value of $536,865.00. Following the completion of the sale, the director now owns 378,965 shares of the company’s stock, valued at $135,635,363.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John E. Warnock sold 1,500 shares of the stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $357.91, for a total value of $536,865.00. Following the sale, the director now directly owns 378,965 shares in the company, valued at $135,635,363.15. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 132 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $354.78, for a total value of $46,830.96. Following the transaction, the chief accounting officer now owns 3,610 shares of the company’s stock, valued at approximately $1,280,755.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,747 shares of company stock valued at $7,915,709. Company insiders own 0.24% of the company’s stock.
Analyst Upgrades and Downgrades
Adobe Price Performance
NASDAQ:ADBE opened at $385.37 on Friday. The firm has a market capitalization of $176.72 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 2.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.12 and a quick ratio of 1.11. The business has a 50 day simple moving average of $359.12 and a 200-day simple moving average of $333.65. Adobe Inc. has a 1 year low of $274.73 and a 1 year high of $473.49.
Adobe (NASDAQ:ADBE – Get Rating) last issued its quarterly earnings results on Wednesday, March 15th. The software company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.12. Adobe had a return on equity of 36.53% and a net margin of 26.32%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period last year, the company earned $2.84 earnings per share. Adobe’s revenue was up 9.2% on a year-over-year basis. Equities analysts forecast that Adobe Inc. will post 12.22 EPS for the current year.
Adobe Company Profile
Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.
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