Bond & Devick Financial Network Inc. Purchases 54 Shares of Adobe Inc. (NASDAQ:ADBE)

Bond & Devick Financial Network Inc. increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 638 shares of the software company’s stock after buying an additional 54 shares during the period. Bond & Devick Financial Network Inc.’s holdings in Adobe were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. One Charles Private Wealth Services LLC raised its position in shares of Adobe by 2.2% during the third quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after buying an additional 17 shares during the last quarter. Invst LLC raised its position in shares of Adobe by 1.9% during the third quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after buying an additional 17 shares during the last quarter. Raleigh Capital Management Inc. increased its position in Adobe by 3.1% in the third quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock worth $285,000 after purchasing an additional 17 shares during the last quarter. Valley Wealth Managers Inc. increased its position in Adobe by 2.6% in the third quarter. Valley Wealth Managers Inc. now owns 704 shares of the software company’s stock worth $359,000 after purchasing an additional 18 shares during the last quarter. Finally, Catalyst Private Wealth LLC increased its position in Adobe by 3.9% in the fourth quarter. Catalyst Private Wealth LLC now owns 475 shares of the software company’s stock worth $283,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.

Insider Activity at Adobe

In related news, CEO Shantanu Narayen sold 32,000 shares of Adobe stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $598.28, for a total value of $19,144,960.00. Following the sale, the chief executive officer now owns 377,928 shares of the company’s stock, valued at approximately $226,106,763.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 788 shares of Adobe stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $615.42, for a total transaction of $484,950.96. Following the sale, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at approximately $2,495,528.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Shantanu Narayen sold 32,000 shares of Adobe stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $598.28, for a total transaction of $19,144,960.00. Following the sale, the chief executive officer now directly owns 377,928 shares in the company, valued at approximately $226,106,763.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,162 shares of company stock valued at $26,276,030. 0.15% of the stock is owned by company insiders.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded up $21.40 during trading on Monday, hitting $513.86. 7,048,998 shares of the stock traded hands, compared to its average volume of 3,535,195. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.22. The company has a market cap of $232.55 billion, a price-to-earnings ratio of 49.13, a P/E/G ratio of 3.03 and a beta of 1.29. The company has a fifty day moving average price of $583.38 and a two-hundred day moving average price of $573.74. Adobe Inc. has a 52-week low of $331.89 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.38 by $0.10. The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 38.97%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.97 EPS. As a group, equities analysts predict that Adobe Inc. will post 14.46 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. Robert W. Baird reduced their price target on shares of Adobe from $590.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday. Piper Sandler cut their price objective on shares of Adobe from $705.00 to $700.00 and set an “overweight” rating on the stock in a research report on Friday. Stifel Nicolaus cut their price objective on shares of Adobe from $650.00 to $625.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Evercore ISI cut their price objective on shares of Adobe from $700.00 to $650.00 and set an “outperform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $627.00.

About Adobe

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.