Strategic Investment Solutions Inc. IL Takes Position in Adobe Inc. (NASDAQ:ADBE)

Strategic Investment Solutions Inc. IL bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 78 shares of the software company’s stock, valued at approximately $43,000.

A number of other hedge funds have also recently bought and sold shares of ADBE. Tradewinds Capital Management LLC increased its holdings in shares of Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares during the period. Salomon & Ludwin LLC increased its stake in Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Summit Securities Group LLC acquired a new position in Adobe in the 2nd quarter valued at approximately $33,000. Lynx Investment Advisory bought a new stake in shares of Adobe in the 2nd quarter worth approximately $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Adobe during the 2nd quarter worth approximately $39,000. 81.79% of the stock is owned by institutional investors.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,579,186.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. The disclosure for this sale can be found here. Insiders sold a total of 33,759 shares of company stock worth $17,642,653 in the last quarter. 0.15% of the stock is owned by company insiders.

Adobe Stock Up 0.6 %

NASDAQ:ADBE opened at $505.81 on Thursday. The company has a market cap of $224.28 billion, a price-to-earnings ratio of 45.45, a P/E/G ratio of 2.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.11. The stock’s fifty day moving average price is $543.02 and its two-hundred day moving average price is $516.45. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.26 earnings per share. On average, analysts anticipate that Adobe Inc. will post 14.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ADBE shares. Mizuho restated a “buy” rating and issued a $640.00 target price (down from $680.00) on shares of Adobe in a research note on Friday, June 7th. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Adobe in a report on Friday, June 7th. Piper Sandler Companies reissued an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Melius Research reaffirmed a “hold” rating and set a $510.00 price objective on shares of Adobe in a report on Monday, June 10th. Finally, KeyCorp increased their target price on Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $606.40.

About Adobe

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.