Adobe Inc. (NASDAQ:ADBE) Shares Sold by Mezzasalma Advisors LLC

by · The Cerbat Gem

Mezzasalma Advisors LLC lowered its position in Adobe Inc. (NASDAQ:ADBE – Free Report) by 0.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,623 shares of the software company’s stock after selling 53 shares during the period. Adobe comprises approximately 1.4% of Mezzasalma Advisors LLC’s holdings, making the stock its 21st largest position. Mezzasalma Advisors LLC’s holdings in Adobe were worth $3,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ADBE. Vanguard Group Inc. lifted its position in Adobe by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock worth $20,511,473,000 after acquiring an additional 382,803 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Adobe by 0.6% during the second quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock worth $1,097,475,000 after purchasing an additional 12,065 shares during the period. Clearbridge Investments LLC grew its position in Adobe by 0.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock valued at $1,097,044,000 after buying an additional 15,685 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Adobe by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock valued at $945,780,000 after buying an additional 185,737 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Daniel Durn sold 6,500 shares of the business’s 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 owns 20,838 shares in the company, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,078 shares of company stock worth $16,700,246 in the last 90 days. 0.15% of the stock is owned by company insiders.

Adobe Stock Performance

Shares of ADBE opened at $500.79 on Thursday. The company has a market capitalization of $222.05 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The company’s 50 day simple moving average is $536.95 and its 200 day simple moving average is $515.85.

Adobe (NASDAQ:ADBE – Get Free Report) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.26 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 14.8 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on ADBE shares. UBS Group reduced their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Sanford C. Bernstein reduced 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. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Morgan Stanley restated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Check Out Our Latest Report on ADBE

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.

See Also

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