Cahill Financial Advisors Inc. Boosts Holdings in Adobe Inc. (NASDAQ:ADBE)

Cahill Financial Advisors Inc. raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 24.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 625 shares of the software company’s stock after buying an additional 124 shares during the period. Cahill Financial Advisors Inc.’s holdings in Adobe were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC grew its stake in shares of Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after purchasing an additional 1,376,333 shares during the period. Swedbank AB acquired a new stake in Adobe during the first quarter valued at $621,179,000. Longview Partners Guernsey LTD acquired a new stake in Adobe during the second quarter valued at $663,745,000. Liberty Wealth Management LLC grew its position in Adobe by 55,496.6% during the second quarter. Liberty Wealth Management LLC now owns 572,645 shares of the software company’s stock valued at $318,127,000 after buying an additional 571,615 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Adobe by 982.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after acquiring an additional 491,627 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock worth $17,736,369 in the last ninety days. 0.15% of the stock is owned by corporate insiders.

Adobe Trading Up 1.5 %

Shares of NASDAQ ADBE opened at $512.15 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $225.45 billion, a PE ratio of 43.26, a PEG ratio of 2.60 and a beta of 1.30. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The stock has a fifty day simple moving average of $503.13 and a 200-day simple moving average of $519.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate 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 posted $3.26 EPS. On average, equities analysts forecast that Adobe Inc. will post 14.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent analyst reports. Citigroup lifted their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Bank of America restated a “buy” rating and issued a $640.00 price objective on shares of Adobe in a research report on Friday, September 13th. UBS Group dropped their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

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.