1834 Investment Advisors Co. Has $1.03 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

1834 Investment Advisors Co. lifted its position in Adobe Inc. (NASDAQ:ADBE) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,997 shares of the software company’s stock after purchasing an additional 40 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Adobe were worth $1,034,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Adobe by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after purchasing an additional 382,803 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after buying an additional 1,146,718 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Adobe by 0.6% in the second quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock valued at $1,097,475,000 after acquiring an additional 12,065 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Adobe by 0.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock worth $1,097,044,000 after acquiring an additional 15,685 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Adobe by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock valued at $945,780,000 after purchasing an additional 185,737 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 1.1 %

NASDAQ ADBE opened at $486.42 on Wednesday. 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 stock’s 50-day moving average is $518.98 and its 200-day moving average is $516.41. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The firm has a market cap of $214.12 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.49 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating 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 firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm posted $3.26 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Sell-side analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADBE. Piper Sandler restated an “overweight” rating and set a $635.00 target price on shares of Adobe in a report on Friday, September 13th. Citigroup increased their price target on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price target on shares of Adobe in a research note on Friday, September 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,187 shares of company stock valued at $17,736,369. Company insiders own 0.15% of the company’s stock.

About Adobe

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.