B. Metzler seel. Sohn & Co. Holding AG Takes $25.79 Million Position in Adobe Inc. (NASDAQ:ADBE)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,811 shares of the software company's stock, valued at approximately $25,788,000.

A number of other hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. boosted its holdings in Adobe by 47.9% in the first quarter. Bessemer Group Inc. now owns 33,346 shares of the software company's stock worth $16,827,000 after purchasing an additional 10,793 shares during the period. Lake Street Advisors Group LLC lifted its stake in Adobe by 35.7% in the first quarter. Lake Street Advisors Group LLC now owns 4,393 shares of the software company's stock valued at $2,217,000 after buying an additional 1,156 shares during the last quarter. Ossiam lifted its stake in Adobe by 1.5% in the first quarter. Ossiam now owns 214,847 shares of the software company's stock valued at $108,412,000 after buying an additional 3,259 shares during the last quarter. Boulder Hill Capital Management LP bought a new stake in Adobe in the first quarter valued at $3,734,000. Finally, Titan Global Capital Management USA LLC lifted its stake in Adobe by 145.6% in the first quarter. Titan Global Capital Management USA LLC now owns 23,573 shares of the software company's stock valued at $11,895,000 after buying an additional 13,974 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Piper Sandler reiterated an "overweight" rating and issued a $635.00 target price on shares of Adobe in a research note on Friday, September 13th. Citigroup raised their target price on Adobe from $550.00 to $621.00 and gave the company a "neutral" rating in a research note on Wednesday, September 11th. StockNews.com upgraded Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 13th. Argus upgraded Adobe to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Sanford C. Bernstein cut their price objective on shares of Adobe from $660.00 to $644.00 and set an "outperform" rating on the stock in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and an average price target of $606.40.

Adobe Trading Up 0.0 %

ADBE traded up $0.10 during trading on Tuesday, reaching $499.61. The company had a trading volume of 1,960,948 shares, compared to its average volume of 3,162,682. The firm's 50-day simple moving average is $508.38 and its 200 day simple moving average is $518.85. The company has a market cap of $219.93 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 2.59 and a beta of 1.30. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts' consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analysts' expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. Equities research analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares of the company's stock, valued at $186,569,166. The trade was a 6.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Adobe Profile

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.