Cahill Financial Advisors Inc. Sells 540 Shares of Adobe Inc. (NASDAQ:ADBE)

Cahill Financial Advisors Inc. decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 51.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 501 shares of the software company’s stock after selling 540 shares during the period. Cahill Financial Advisors Inc.’s holdings in Adobe were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ADBE. Vise Technologies Inc. boosted its stake in Adobe by 267.3% during the fourth quarter. Vise Technologies Inc. now owns 7,769 shares of the software company’s stock valued at $4,635,000 after buying an additional 5,654 shares during the last quarter. Steph & Co. boosted its stake in Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after buying an additional 30 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Adobe by 16.2% during the first quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock valued at $1,435,000 after buying an additional 398 shares during the last quarter. Choreo LLC boosted its stake in Adobe by 4.7% during the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after buying an additional 197 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in Adobe by 14.7% during the fourth quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock valued at $14,557,000 after buying an additional 3,120 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the transaction, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Adobe news, CAO Mark S. Garfield sold 264 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares in the company, valued at approximately $1,439,897.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the sale, the chief executive officer now owns 379,660 shares in the company, valued at approximately $206,576,802.60. The disclosure for this sale can be found here. Insiders have sold 27,523 shares of company stock valued at $14,994,277 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.1 %

ADBE opened at $569.88 on Tuesday. The firm has a market cap of $252.68 billion, a price-to-earnings ratio of 51.20, a PEG ratio of 2.94 and a beta of 1.29. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The stock has a fifty day moving average price of $553.92 and a 200-day moving average price of $519.31.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.39 by $0.09. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 EPS. As a group, equities research analysts anticipate that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADBE. Stifel Nicolaus increased their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upgraded Adobe from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $570.00 to $580.00 in a research report on Friday, June 14th. Mizuho restated a “buy” rating and set a $640.00 price objective (down from $680.00) on shares of Adobe in a research report on Friday, June 7th. Melius Research restated a “hold” rating and set a $510.00 price objective on shares of Adobe in a research report on Monday, June 10th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $605.52.

Adobe Company 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.