GHP Investment Advisors Inc. Has $7.53 Million Stake in Adobe Inc. (NASDAQ:ADBE)

by · The Markets Daily

GHP Investment Advisors Inc. reduced its stake in Adobe Inc. (NASDAQ:ADBE – Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,539 shares of the software company’s stock after selling 241 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Adobe were worth $7,528,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Onyx Bridge Wealth Group LLC lifted its position in Adobe by 3.9% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after acquiring an additional 19 shares during the last quarter. HTLF Bank grew its holdings in Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after buying an additional 19 shares during the last quarter. Commonwealth Financial Services LLC increased its position in Adobe by 3.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after buying an additional 19 shares during the period. Orrstown Financial Services Inc. lifted its holdings in shares of Adobe by 0.9% during the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock worth $1,257,000 after buying an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC boosted its position in shares of Adobe by 0.3% in the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock valued at $3,815,000 after acquiring an additional 20 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares in the company, valued at approximately $9,675,744.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 18,831 shares in the company, valued at $9,675,744.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,030 shares of company stock valued at $17,176,005 over the last three months. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADBE. Barclays upped their target price on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Morgan Stanley reiterated an “overweight” rating and issued a $660.00 target price on shares of Adobe in a research note on Friday, September 13th. Piper Sandler restated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, September 13th. Citigroup raised their price objective on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Two 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

View Our Latest Report on ADBE

Adobe Trading Up 0.2 %

Shares of ADBE stock traded up $0.85 on Friday, reaching $483.72. 2,426,769 shares of the stock were exchanged, compared to its average volume of 3,190,407. The stock has a 50 day moving average price of $530.03 and a 200 day moving average price of $515.60. The stock has a market cap of $214.48 billion, a PE ratio of 43.46, a P/E/G ratio of 2.55 and a beta of 1.29. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. 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 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. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $3.26 EPS. Adobe’s revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Adobe Profile

(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.

See Also

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