Atria Wealth Solutions Inc. Has $13.36 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Atria Wealth Solutions Inc. trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% during the first quarter, HoldingsChannel reports. The fund owned 39,705 shares of the software company’s stock after selling 613 shares during the period. Atria Wealth Solutions Inc.’s holdings in Adobe were worth $13,362,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Ilmarinen Mutual Pension Insurance Co grew its position in Adobe by 11.1% in the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 50,000 shares of the software company’s stock valued at $19,269,000 after purchasing an additional 5,000 shares in the last quarter. Vident Investment Advisory LLC grew its holdings in shares of Adobe by 585.8% in the 4th quarter. Vident Investment Advisory LLC now owns 70,198 shares of the software company’s stock valued at $23,624,000 after acquiring an additional 59,962 shares in the last quarter. Geo Capital Gestora de Recursos Ltd increased its position in shares of Adobe by 8.5% in the first quarter. Geo Capital Gestora de Recursos Ltd now owns 10,433 shares of the software company’s stock valued at $4,021,000 after acquiring an additional 813 shares during the last quarter. Colonial Trust Co SC raised its holdings in Adobe by 1,003.1% during the first quarter. Colonial Trust Co SC now owns 1,081 shares of the software company’s stock worth $417,000 after acquiring an additional 983 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. grew its stake in Adobe by 413.5% in the first quarter. Bowen Hanes & Co. Inc. now owns 97,663 shares of the software company’s stock valued at $37,636,000 after purchasing an additional 78,645 shares in the last quarter. 80.00% of the stock is owned by institutional investors.

Adobe Stock Up 2.1 %

Shares of ADBE opened at $553.56 on Thursday. The firm has a 50 day simple moving average of $526.47 and a two-hundred day simple moving average of $439.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.16. Adobe Inc. has a one year low of $274.73 and a one year high of $570.24. The company has a market cap of $252.31 billion, a P/E ratio of 52.82, a P/E/G ratio of 3.36 and a beta of 1.33.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 15th. The software company reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.12. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Adobe had a return on equity of 36.84% and a net margin of 26.34%. Adobe’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.70 EPS. Research analysts forecast that Adobe Inc. will post 12.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of analyst reports. Stifel Nicolaus upped their price objective on Adobe from $400.00 to $550.00 in a research note on Friday, June 16th. Sanford C. Bernstein upped their price target on shares of Adobe from $431.00 to $585.00 in a research report on Monday, June 19th. Mizuho raised shares of Adobe from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $520.00 to $630.00 in a research report on Friday, September 8th. Piper Sandler upped their target price on shares of Adobe from $500.00 to $572.00 in a report on Friday, June 16th. Finally, Evercore ISI raised their target price on shares of Adobe from $425.00 to $475.00 in a research note on Monday, June 12th. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $544.39.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 298 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $526.74, for a total value of $156,968.52. Following the completion of the transaction, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at $2,135,930.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Mark S. Garfield sold 298 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $526.74, for a total transaction of $156,968.52. Following the completion of the transaction, the chief accounting officer now directly owns 4,055 shares in the company, valued at approximately $2,135,930.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott Belsky sold 2,191 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $520.00, for a total transaction of $1,139,320.00. Following the completion of the sale, the executive vice president now owns 23,775 shares in the company, valued at approximately $12,363,000. The disclosure for this sale can be found here. Insiders have sold a total of 43,089 shares of company stock worth $20,720,115 over the last 90 days. Insiders own 0.24% of the company’s stock.

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.