Jump Financial LLC Invests $355,000 in Adobe Inc. (NASDAQ:ADBE)

Jump Financial LLC bought a new stake in Adobe Inc. (NASDAQ:ADBEFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 697 shares of the software company’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC purchased a new stake in Adobe in the 3rd quarter valued at approximately $25,000. HBC Financial Services PLLC acquired a new position in Adobe in the 3rd quarter valued at $25,000. Global Wealth Strategies & Associates raised its holdings in Adobe by 57.6% in the 3rd quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock valued at $27,000 after acquiring an additional 19 shares during the last quarter. Halpern Financial Inc. raised its holdings in Adobe by 314.3% in the 3rd quarter. Halpern Financial Inc. now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new position in Adobe in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on Adobe from $600.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Barclays upgraded Adobe from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $680.00 to $700.00 in a report on Monday, December 18th. Oppenheimer upgraded Adobe from a “market perform” rating to an “outperform” rating and set a $660.00 price target for the company in a report on Thursday, October 26th. Piper Sandler increased their price target on Adobe from $650.00 to $705.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, BNP Paribas downgraded Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price target for the company. in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $613.14.

Read Our Latest Analysis on Adobe

Adobe Trading Down 2.5 %

Shares of NASDAQ:ADBE opened at $611.84 on Tuesday. The stock has a market capitalization of $276.55 billion, a price-to-earnings ratio of 51.81, a PEG ratio of 3.30 and a beta of 1.34. Adobe Inc. has a 1-year low of $318.60 and a 1-year high of $638.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day moving average price of $603.43 and a 200 day moving average price of $568.39.

Adobe (NASDAQ:ADBEGet Free Report) last issued its earnings results on Wednesday, December 13th. The software company reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.13 by $0.14. The firm had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Adobe had a net margin of 27.97% and a return on equity of 38.30%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $2.78 earnings per share. On average, research analysts anticipate that Adobe Inc. will post 14.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 263 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $591.80, for a total value of $155,643.40. Following the completion of the transaction, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at approximately $2,399,749. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Adobe news, insider David Wadhwani sold 6,099 shares of Adobe stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $571.77, for a total transaction of $3,487,225.23. Following the completion of the sale, the insider now owns 7,614 shares of the company’s stock, valued at approximately $4,353,456.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 263 shares of Adobe stock in a transaction on Monday, December 18th. The shares were sold at an average price of $591.80, for a total transaction of $155,643.40. Following the sale, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at approximately $2,399,749. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,425 shares of company stock worth $26,431,673. Corporate insiders own 0.24% of the company’s stock.

Adobe Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBEFree Report).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.