Cahill Financial Advisors Inc. Buys 124 Shares of Adobe Inc. (NASDAQ:ADBE)

Cahill Financial Advisors Inc. boosted its position in Adobe Inc. (NASDAQ:ADBE) by 24.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 625 shares of the software company’s stock after purchasing an additional 124 shares during the period. Cahill Financial Advisors Inc.’s holdings in Adobe were worth $324,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ADBE. Silvercrest Asset Management Group LLC lifted its stake in Adobe by 3.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 12,112 shares of the software company’s stock worth $6,112,000 after purchasing an additional 361 shares during the last quarter. Waverly Advisors LLC grew its stake in shares of Adobe by 185.3% during the first quarter. Waverly Advisors LLC now owns 3,486 shares of the software company’s stock valued at $1,759,000 after buying an additional 2,264 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its stake in shares of Adobe by 3.3% in the first quarter. Industrial Alliance Investment Management Inc. now owns 940 shares of the software company’s stock worth $474,000 after buying an additional 30 shares during the period. Whalerock Point Partners LLC boosted its position in Adobe by 3.4% during the 1st quarter. Whalerock Point Partners LLC now owns 1,533 shares of the software company’s stock valued at $774,000 after acquiring an additional 50 shares in the last quarter. Finally, Oxford Wealth Group LLC bought a new stake in shares of Adobe during the first quarter valued at approximately $1,216,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 23.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently owned by insiders.

Adobe Trading Up 1.5 %

ADBE stock opened at $512.15 on Monday. The firm’s 50-day moving average is $503.13 and its 200 day moving average is $519.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a market capitalization of $225.45 billion, a PE ratio of 43.26, a P/E/G ratio of 2.60 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results 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 firm 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%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.26 EPS. On average, research analysts anticipate that Adobe Inc. will post 14.82 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent research reports. Bank of America reissued a “buy” rating and issued a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Stifel Nicolaus boosted their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Barclays upped their price target on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, Citigroup lifted their price objective on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus 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.