Adobe Inc. (NASDAQ:ADBE) Shares Sold by Bremer Bank National Association

Bremer Bank National Association reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,722 shares of the software company’s stock after selling 43 shares during the quarter. Bremer Bank National Association’s holdings in Adobe were worth $957,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Tradewinds Capital Management LLC raised its stake in shares of Adobe by 266.7% in the first 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 last quarter. Salomon & Ludwin LLC lifted its stake in Adobe by 346.2% during the 1st 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. Wetzel Investment Advisors Inc. purchased a new stake in shares of Adobe in the 4th quarter valued at $35,000. Lynx Investment Advisory acquired a new stake in shares of Adobe in the second quarter worth $39,000. Finally, First Community Trust NA purchased a new position in shares of Adobe during the second quarter worth $41,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler Companies reaffirmed an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Robert W. Baird upped their price objective on Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. Stifel Nicolaus cut their target price on shares of Adobe from $625.00 to $600.00 and set a “buy” rating for the company in a report on Friday, June 7th. Piper Sandler lowered their price target on shares of Adobe from $700.00 to $635.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Barclays increased their target price on shares of Adobe from $630.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $601.38.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on 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 transaction, the executive vice president now directly owns 19,658 shares in the company, valued at $10,556,346. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the sale, the executive vice president now directly owns 19,658 shares in the company, valued at $10,556,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 97 shares of Adobe 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 completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The disclosure for this sale can be found here. Insiders have sold a total of 27,523 shares of company stock worth $14,994,277 in the last ninety days. 0.15% of the stock is owned by corporate insiders.

Adobe Trading Up 0.9 %

ADBE stock traded up $4.57 during mid-day trading on Wednesday, hitting $539.79. 1,915,323 shares of the company were exchanged, compared to its average volume of 3,323,331. The business has a fifty day simple moving average of $531.91 and a 200-day simple moving average of $523.87. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The firm has a market capitalization of $239.34 billion, a P/E ratio of 48.35, a PEG ratio of 2.85 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Adobe 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.