GAM Holding AG Sells 11,138 Shares of Adobe Inc. (NASDAQ:ADBE)

GAM Holding AG reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 39.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,798 shares of the software company’s stock after selling 11,138 shares during the quarter. GAM Holding AG’s holdings in Adobe were worth $8,698,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Adobe by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after buying an additional 1,412 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Adobe by 9.8% in the 2nd quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock valued at $8,892,000 after buying an additional 1,430 shares during the last quarter. Choreo LLC boosted its holdings in shares of Adobe by 4.7% in the 1st 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 last quarter. Fairscale Capital LLC acquired a new stake in shares of Adobe in the 2nd quarter valued at approximately $1,318,000. Finally, Daymark Wealth Partners LLC lifted its holdings in Adobe by 89.8% during the 2nd quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock valued at $5,065,000 after purchasing an additional 4,315 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of the company’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 value of $52,089.00. Following the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the 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 $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,501,989. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 1,530 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,608 shares of company stock worth $17,486,391 over the last ninety days. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $493.11 on Wednesday. The business has a 50 day moving average of $533.94 and a 200-day moving average of $516.05. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The company has a market capitalization of $218.64 billion, a P/E ratio of 44.30, a P/E/G ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the business posted $3.26 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Adobe Inc. will post 14.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ADBE shares. Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reissued a “buy” rating and set a $640.00 target price on shares of Adobe in a report on Friday, September 13th. Piper Sandler reissued an “overweight” rating and set a $635.00 target price on shares of Adobe in a report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and set a $625.00 target price on shares of Adobe in a report on Friday, September 13th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. 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 assigned a strong buy rating to the stock. According to MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

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.