Bank Hapoalim BM Has $415,000 Position in Adobe Inc. (NASDAQ:ADBE)

Bank Hapoalim BM trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 801 shares of the software company’s stock after selling 47 shares during the quarter. Bank Hapoalim BM’s holdings in Adobe were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADBE. GAMMA Investing LLC boosted its holdings in shares of Adobe by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after acquiring an additional 1,412 shares in the last quarter. Anchor Investment Management LLC grew its holdings in shares of Adobe by 9.8% during the second quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock worth $8,892,000 after purchasing an additional 1,430 shares during the last quarter. Choreo LLC increased its stake in shares of Adobe by 4.7% in the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after buying an additional 197 shares during the period. Fairscale Capital LLC bought a new position in Adobe in the 2nd quarter valued at approximately $1,318,000. Finally, Daymark Wealth Partners LLC raised its holdings in Adobe by 89.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock valued at $5,065,000 after buying an additional 4,315 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 0.4 %

Adobe stock traded down $1.91 during trading hours on Thursday, reaching $484.77. The stock had a trading volume of 110,742 shares, compared to its average volume of 3,164,205. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a fifty day simple moving average of $525.27 and a 200-day simple moving average of $515.81. The stock has a market cap of $214.95 billion, a PE ratio of 43.67, a PEG ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm posted $3.26 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts forecast that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Adobe news, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The stock was 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 owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,511 shares of company stock valued at $17,408,530. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a research report on Friday, September 13th. Barclays upped their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $635.00 target price on shares of Adobe in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $606.40.

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.