Nicolet Bankshares Inc. Sells 41 Shares of Adobe Inc. (NASDAQ:ADBE)

Nicolet Bankshares Inc. lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,404 shares of the software company’s stock after selling 41 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Adobe were worth $1,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. Evolution Wealth Advisors LLC acquired a new stake in Adobe in the 2nd quarter valued at $30,000. Harvest Group Wealth Management LLC acquired a new stake in Adobe in the 2nd quarter valued at $30,000. Cedar Mountain Advisors LLC grew its position in Adobe by 81.0% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 76 shares of the software company’s stock valued at $33,000 after purchasing an additional 34 shares during the period. Rockbridge Investment Management LCC acquired a new stake in Adobe in the 2nd quarter valued at $36,000. Finally, Newfound Research LLC acquired a new stake in Adobe in the 3rd quarter valued at $38,000. 84.03% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ADBE traded down $16.44 during trading on Friday, reaching $444.67. 107,245 shares of the company traded hands, compared to its average volume of 3,171,124. The firm has a market capitalization of $221.20 billion, a price-to-earnings ratio of 55.90, a P/E/G ratio of 3.13 and a beta of 0.97. Adobe Inc. has a 52-week low of $255.13 and a 52-week high of $536.88. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $485.87 and its 200-day moving average is $432.42.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 15th. The software company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.16. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Adobe had a return on equity of 35.84% and a net margin of 31.05%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 8.23 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on ADBE shares. Oppenheimer lifted their price objective on shares of Adobe from $430.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. DZ Bank upgraded Adobe from a “hold” rating to a “buy” rating and set a $570.00 target price on the stock in a research note on Thursday, September 17th. The Goldman Sachs Group lifted their target price on Adobe from $460.00 to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 16th. BMO Capital Markets restated an “equal weight” rating and issued a $500.00 price objective (up from $375.00) on shares of Adobe in a research note on Wednesday, September 16th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $550.00 price objective (up from $430.00) on shares of Adobe in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $504.86.

In related news, CMO Ann Lewnes sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $447.59, for a total transaction of $2,237,950.00. Following the completion of the transaction, the chief marketing officer now owns 40,257 shares in the company, valued at $18,018,630.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO John Francis Murphy sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $480.90, for a total value of $1,923,600.00. Following the transaction, the chief financial officer now owns 16,266 shares of the company’s stock, valued at approximately $7,822,319.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,376 shares of company stock valued at $20,042,368. 0.31% of the stock is owned by corporate insiders.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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