Prospera Financial Services Inc Has $13.09 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Prospera Financial Services Inc raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,273 shares of the software company’s stock after purchasing an additional 929 shares during the period. Prospera Financial Services Inc’s holdings in Adobe were worth $13,086,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADBE. International Assets Investment Management LLC lifted its holdings in shares of Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares during the last quarter. Swedbank AB bought a new position in shares of Adobe in the 1st quarter valued at $621,179,000. Longview Partners Guernsey LTD acquired a new stake in shares of Adobe during the 2nd quarter valued at $663,745,000. Price T Rowe Associates Inc. MD increased its holdings in Adobe by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares in the last quarter. Finally, BlueSpruce Investments LP raised its position in Adobe by 81.1% in the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock valued at $648,712,000 after purchasing an additional 575,675 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and issued a $625.00 price target on shares of Adobe in a report on Friday, September 13th. Stifel Nicolaus boosted their price objective on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $635.00 target price on shares of Adobe in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 6,500 shares of Adobe 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 of the company’s stock, valued at approximately $10,740,738.72. The trade was a 23.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Down 0.8 %

Shares of NASDAQ:ADBE opened at $499.51 on Tuesday. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a market cap of $219.88 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 2.59 and a beta of 1.30. The stock has a 50 day moving average of $508.38 and a 200 day moving average of $518.85. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $3.26 earnings per share. As a group, equities research analysts expect that Adobe Inc. will post 14.82 EPS for the current 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.