Nicolet Advisory Services LLC Buys 276 Shares of Adobe Inc. (NASDAQ:ADBE)

Nicolet Advisory Services LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 12.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,436 shares of the software company’s stock after acquiring an additional 276 shares during the period. Nicolet Advisory Services LLC’s holdings in Adobe were worth $1,227,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Piscataqua Savings Bank increased its stake in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Adobe in the third quarter valued at approximately $30,000. Summit Securities Group LLC bought a new stake in Adobe in the second quarter valued at approximately $33,000. Lynx Investment Advisory acquired a new stake in shares of Adobe in the second quarter valued at approximately $39,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of Adobe during the 3rd quarter worth approximately $36,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research reports. Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. UBS Group cut their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Sanford C. Bernstein lowered their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Royal Bank of Canada restated an “outperform” rating and set a $610.00 price objective on shares of Adobe in a report on Tuesday, October 15th. Finally, Bank of America reiterated a “buy” rating and set a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued 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.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Trading Up 1.5 %

Shares of ADBE opened at $512.15 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The firm has a market cap of $225.45 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 2.57 and a beta of 1.30. The business’s fifty day moving average is $503.13 and its 200-day moving average is $518.84.

Adobe (NASDAQ:ADBE) last issued its 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 return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the firm earned $3.26 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts anticipate that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated 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 in the company, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock valued at $17,736,369 in the last quarter. Insiders own 0.15% of the company’s stock.

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.