Outlook Wealth Advisors LLC Increases Stock Position in Adobe Inc. (NASDAQ:ADBE)

Outlook Wealth Advisors LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 884 shares of the software company’s stock after purchasing an additional 38 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Adobe were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Adobe by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after purchasing an additional 382,803 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Adobe by 17.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock valued at $3,857,189,000 after purchasing an additional 1,146,718 shares in the last quarter. Principal Financial Group Inc. raised its stake in Adobe by 0.6% in the second quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock valued at $1,097,475,000 after purchasing an additional 12,065 shares in the last quarter. Clearbridge Investments LLC raised its stake in Adobe by 0.8% in the second quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock valued at $1,097,044,000 after purchasing an additional 15,685 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Adobe by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock valued at $945,780,000 after purchasing an additional 185,737 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Adobe news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,030 shares of company stock worth $17,176,005 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $483.72 on Friday. The stock has a market cap of $214.48 billion, a price-to-earnings ratio of 43.46, a PEG ratio of 2.55 and a beta of 1.29. The firm’s 50-day moving average is $530.03 and its 200 day moving average is $515.60. Adobe Inc. has a 1 year low of $433.97 and a 1 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) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company 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%. Adobe’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.26 EPS. Sell-side analysts anticipate that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ADBE. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 price target on shares of Adobe in a research note on Tuesday, October 15th. Piper Sandler Companies reissued an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. Piper Sandler reissued an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, September 13th. Barclays lifted their price target on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe presently has a consensus 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.