775 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by New England Research & Management Inc.

New England Research & Management Inc. bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 775 shares of the software company’s stock, valued at approximately $431,000.

Several other institutional investors also recently bought and sold shares of the stock. Evolution Advisers Inc. lifted its position in Adobe by 14.3% during the fourth quarter. Evolution Advisers Inc. now owns 136 shares of the software company’s stock worth $79,000 after purchasing an additional 17 shares during the period. Sound View Wealth Advisors Group LLC raised its stake in Adobe by 2.5% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 696 shares of the software company’s stock worth $415,000 after acquiring an additional 17 shares in the last quarter. Wade G W & Inc. raised its stake in Adobe by 0.5% during the fourth quarter. Wade G W & Inc. now owns 3,712 shares of the software company’s stock worth $2,215,000 after acquiring an additional 18 shares in the last quarter. River Street Advisors LLC raised its stake in Adobe by 2.1% during the fourth quarter. River Street Advisors LLC now owns 945 shares of the software company’s stock worth $564,000 after acquiring an additional 19 shares in the last quarter. Finally, Invst LLC raised its stake in Adobe by 2.1% during the fourth quarter. Invst LLC now owns 934 shares of the software company’s stock worth $567,000 after acquiring an additional 19 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays boosted their target price on Adobe from $630.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Sanford C. Bernstein boosted their target price on Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Piper Sandler Companies reissued an “overweight” rating and set a $635.00 target price on shares of Adobe in a research note on Friday, July 12th. TD Cowen lowered their price objective on Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Finally, KeyCorp upped their price objective on Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $601.38.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 264 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $525.51, for a total value of $138,734.64. Following the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at approximately $1,439,897.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Mark S. Garfield sold 264 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $525.51, for a total value of $138,734.64. Following the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at approximately $1,439,897.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the transaction, the chief executive officer now owns 379,660 shares in the company, valued at $206,576,802.60. The disclosure for this sale can be found here. Insiders have sold a total of 27,523 shares of company stock worth $14,994,277 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.0 %

Shares of Adobe stock traded up $4.88 on Tuesday, reaching $514.20. 2,073,859 shares of the company’s stock were exchanged, compared to its average volume of 3,379,423. The company has a market capitalization of $228.00 billion, a P/E ratio of 45.76, a price-to-earnings-growth ratio of 2.85 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’s 50-day moving average is $523.38 and its two-hundred day moving average is $527.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.39 by $0.09. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. Sell-side analysts predict that Adobe Inc. will post 14.69 EPS for the current fiscal year.

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.