Schaper Benz & Wise Investment Counsel Inc. WI Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.5% in the third quarter, Holdings Channel.com reports. The firm owned 69,578 shares of the software company’s stock after acquiring an additional 3,001 shares during the period. Adobe makes up about 2.9% of Schaper Benz & Wise Investment Counsel Inc. WI’s investment portfolio, making the stock its 4th largest position. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Adobe were worth $36,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Piscataqua Savings Bank lifted its position in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Tradewinds Capital Management LLC grew its position in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC increased its stake in Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after buying an additional 45 shares during the last quarter. Summit Securities Group LLC bought a new stake in Adobe during the 2nd quarter worth about $33,000. Finally, Steph & Co. boosted its stake in shares of Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the sale, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now directly owns 18,831 shares in the company, valued at $9,675,744.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,608 shares of company stock valued at $17,486,391. Corporate insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $494.90 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $219.44 billion, a price-to-earnings ratio of 44.47, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company has a 50-day simple moving average of $535.45 and a two-hundred day simple moving average of $515.78. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.26 earnings per share. Analysts forecast that Adobe Inc. will post 14.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ADBE. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a report on Tuesday, October 15th. Barclays boosted their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Bank of America reiterated a “buy” rating and issued a $640.00 price target on shares of Adobe in a research note on Friday, September 13th. Finally, Morgan Stanley restated an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.