Jamison Private Wealth Management Inc. Acquires 328 Shares of Adobe Inc. (NASDAQ:ADBE)

by · The Markets Daily

Jamison Private Wealth Management Inc. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 29.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,450 shares of the software company’s stock after purchasing an additional 328 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Adobe were worth $751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Adobe by 28.0% in the third 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 during the period. Steph & Co. increased its position in Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares during the period. International Assets Investment Management LLC raised its stake in Adobe by 16.2% during the 1st quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock valued at $1,435,000 after purchasing an additional 398 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in 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 purchasing an additional 1,430 shares during the period. Finally, Choreo LLC grew its position in Adobe by 4.7% in the 1st quarter. Choreo LLC now owns 4,431 shares of the software company’s stock worth $2,236,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADBE. Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.40.

Get Our Latest Report on ADBE

Adobe Stock Down 0.3 %

Shares of ADBE opened at $508.03 on Wednesday. The business’s 50 day simple moving average is $537.17 and its 200-day simple moving average is $515.94. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a market capitalization of $225.26 billion, a P/E ratio of 45.65, a PEG 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 – Get Free Report) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company 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 earned $3.26 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $258,297.00. Following the completion of the sale, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction 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 owns 2,797 shares of the company’s stock, 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 through this link. 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 completion of the sale, the executive vice president now owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. 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 a total of 32,078 shares of company stock worth $16,700,246 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.

About Adobe

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE – Free Report).