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Cape ANN Savings Bank Sells 100 Shares of Adobe Inc. (NASDAQ:ADBE)

Cape ANN Savings Bank Sells 100 Shares of Adobe Inc. (NASDAQ:ADBE) #Cape #ANN #Savings #Bank #Sells #Shares #Adobe #NASDAQADBE Welcome to Americanah Blog, here is the new story we have for you today:

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Cape ANN Savings Bank cut its holdings in Adobe Inc. (NASDAQ:ADBEGet Rating) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,112 shares of the software company’s stock after selling 100 shares during the period. Adobe makes up 0.9% of Cape ANN Savings Bank’s portfolio, making the stock its 28th largest position. Cape ANN Savings Bank’s holdings in Adobe were worth $1,418,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ADBE. Delos Wealth Advisors LLC increased its position in shares of Adobe by 169.6% in the fourth quarter. Delos Wealth Advisors LLC now owns 62 shares of the software company’s stock valued at $35,000 after acquiring an additional 39 shares during the period. Ulland Investment Advisors LLC increased its position in shares of Adobe by 60.0% in the first quarter. Ulland Investment Advisors LLC now owns 80 shares of the software company’s stock valued at $36,000 after acquiring an additional 30 shares during the period. Core Alternative Capital increased its position in shares of Adobe by 67.5% in the fourth quarter. Core Alternative Capital now owns 67 shares of the software company’s stock valued at $38,000 after acquiring an additional 27 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Adobe by 62.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 86 shares of the software company’s stock valued at $39,000 after acquiring an additional 33 shares during the period. Finally, Steward Financial Group LLC increased its position in shares of Adobe by 770.0% in the first quarter. Steward Financial Group LLC now owns 87 shares of the software company’s stock valued at $39,000 after acquiring an additional 77 shares during the period. 80.75% of the stock is owned by institutional investors.

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 132 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $409.75, for a total transaction of $54,087.00. Following the transaction, the chief accounting officer now owns 2,465 shares in the company, valued at $1,010,033.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Mark S. Garfield sold 132 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $409.75, for a total transaction of $54,087.00. Following the transaction, the chief accounting officer now owns 2,465 shares in the company, valued at $1,010,033.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 2,711 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $393.58, for a total transaction of $1,066,995.38. Following the transaction, the executive vice president now owns 26,089 shares in the company, valued at approximately $10,268,108.62. The disclosure for this sale can be found here. Insiders have sold a total of 3,637 shares of company stock worth $1,438,682 over the last quarter. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cowen decreased their price objective on shares of Adobe from $550.00 to $520.00 in a research report on Friday, June 17th. Robert W. Baird reduced their price target on shares of Adobe from $550.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, June 17th. Wolfe Research reduced their price target on shares of Adobe from $500.00 to $400.00 and set an “outperform” rating on the stock in a research report on Friday, June 17th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Adobe from $575.00 to $500.00 in a research report on Friday, June 17th. Finally, Piper Sandler reduced their price target on shares of Adobe from $545.00 to $430.00 and set an “overweight” rating on the stock in a research report on Friday, June 17th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average price target of $488.15.

Adobe Trading Down 7.1 %

Shares of NASDAQ ADBE opened at $368.39 on Wednesday. The firm’s 50 day moving average price is $400.49 and its 200-day moving average price is $410.76. The company has a market cap of $172.41 billion, a PE ratio of 35.98, a P/E/G ratio of 2.17 and a beta of 1.14. Adobe Inc. has a 52-week low of $338.00 and a 52-week high of $699.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBEGet Rating) last issued its earnings results on Thursday, June 16th. The software company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.05. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.34 billion. Adobe had a net margin of 29.29% and a return on equity of 36.70%. During the same quarter in the prior year, the firm posted $2.56 earnings per share. On average, equities research analysts expect that Adobe Inc. will post 10.98 EPS for the current fiscal year.

About Adobe

(Get Rating)

Adobe Inc 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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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