Adobe Inc. (NASDAQ:ADBE) Shares Sold by Fiera Capital Corp

Fiera Capital Corp lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 405,776 shares of the software company's stock after selling 3,212 shares during the period. Fiera Capital Corp owned 0.09% of Adobe worth $210,103,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC grew its position in Adobe by 3.9% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company's stock worth $281,000 after purchasing an additional 19 shares during the last quarter. HTLF Bank increased its position in Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company's stock valued at $327,000 after acquiring an additional 19 shares during the period. Commonwealth Financial Services LLC lifted its stake in shares of Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company's stock valued at $309,000 after purchasing an additional 19 shares during the period. Orrstown Financial Services Inc. raised its stake in Adobe by 0.9% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company's stock valued at $1,257,000 after purchasing an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC grew its position in Adobe by 0.3% during the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company's stock valued at $3,815,000 after acquiring an additional 20 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com raised Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 13th. Piper Sandler restated an "overweight" rating and issued a $635.00 price target on shares of Adobe in a research report on Friday, September 13th. Barclays raised their target price on Adobe from $650.00 to $675.00 and gave the company an "overweight" rating in a research note on Wednesday, September 4th. Morgan Stanley reissued an "overweight" rating and issued a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Finally, Bank of America reissued a "buy" rating and issued a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average target price of $606.40.

Adobe Price Performance

Shares of ADBE traded down $6.24 during midday trading on Friday, hitting $494.68. 2,854,484 shares of the company traded hands, compared to its average volume of 3,158,276. The stock has a market cap of $217.76 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 2.48 and a beta of 1.30. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The firm has a 50 day moving average of $514.90 and a 200-day moving average of $516.42. 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 released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the firm earned $3.26 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts forecast that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company's stock, valued at approximately $1,316,693.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 481 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is currently owned by company insiders.

Adobe Company 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.