Trust Co. of Oklahoma Sells 144 Shares of Adobe Inc. (NASDAQ:ADBE)

by · The Cerbat Gem

Trust Co. of Oklahoma lowered its holdings in Adobe Inc. (NASDAQ:ADBE – Free Report) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,359 shares of the software company’s stock after selling 144 shares during the quarter. Trust Co. of Oklahoma’s holdings in Adobe were worth $704,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADBE. Onyx Bridge Wealth Group LLC lifted its holdings in Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after purchasing an additional 19 shares in the last quarter. HTLF Bank lifted its holdings in shares of Adobe by 3.3% during the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after acquiring an additional 19 shares during the period. Commonwealth Financial Services LLC lifted its holdings in shares of Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after acquiring an additional 19 shares during the period. Orrstown Financial Services Inc. lifted its holdings in shares of Adobe by 0.9% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock worth $1,257,000 after acquiring an additional 20 shares during the period. Finally, Orser Capital Management LLC lifted its holdings in shares of Adobe by 0.3% during the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after acquiring an additional 20 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the transaction, the executive vice president now owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $258,297.00. Following the sale, the executive vice president now owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,078 shares of company stock valued at $16,700,246. 0.15% of the stock is owned by corporate insiders.

Adobe Price Performance

NASDAQ:ADBE traded down $1.07 during mid-day trading on Tuesday, reaching $508.58. 2,097,300 shares of the stock were exchanged, compared to its average volume of 3,224,385. The business has a fifty day moving average price of $537.29 and a 200 day moving average price of $515.92. The firm has a market capitalization of $225.50 billion, a PE ratio of 45.87, a PEG ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE – Get Free Report) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.26 earnings per share. Research analysts expect that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Morgan Stanley reissued an “overweight” rating and set a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Argus raised shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Get Our Latest Stock Analysis on Adobe

About Adobe

(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.

See Also

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