Traphagen Investment Advisors LLC Invests $209,000 in Adobe Inc. (NASDAQ:ADBE)

Traphagen Investment Advisors LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 404 shares of the software company’s stock, valued at approximately $209,000.

Other institutional investors have also recently bought and sold shares of the company. Piscataqua Savings Bank grew its stake in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after buying an additional 45 shares during the period. Summit Securities Group LLC bought a new stake in shares of Adobe during the second quarter worth $33,000. Finally, Lynx Investment Advisory bought a new position in Adobe in the second quarter valued at about $39,000. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the transaction, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the transaction, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,608 shares of company stock valued at $17,486,391. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research note on Friday, July 12th. Bank of America reiterated a “buy” rating and set a $640.00 target price on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein decreased their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Finally, UBS Group cut their target price on Adobe from $560.00 to $550.00 and set a “neutral” 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 assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Down 0.7 %

Shares of ADBE stock traded down $3.67 during trading on Tuesday, reaching $494.04. The company’s stock had a trading volume of 450,404 shares, compared to its average volume of 3,195,734. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The business has a fifty day moving average price of $534.79 and a 200-day moving average price of $515.99. The company has a market cap of $219.06 billion, a price-to-earnings ratio of 44.39, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping the consensus estimate 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 net margin of 25.59% and a return on equity of 42.82%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.26 EPS. Analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current year.

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.