Captrust Financial Advisors Purchases 1,469 Shares of Adobe Inc. (NASDAQ:ADBE)

Captrust Financial Advisors lifted its position in Adobe Inc. (NASDAQ:ADBE) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,869 shares of the software company’s stock after acquiring an additional 1,469 shares during the quarter. Captrust Financial Advisors’ holdings in Adobe were worth $80,188,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after buying an additional 1,376,333 shares during the period. Longview Partners Guernsey LTD bought a new position in Adobe during the second quarter valued at about $663,745,000. FMR LLC grew its position in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the period. 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 lifted its holdings in Adobe by 982.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock valued at $300,919,000 after purchasing an additional 491,627 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The trade was a 23.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock valued at $17,736,369 in the last quarter. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADBE shares. Sanford C. Bernstein dropped their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Adobe in a research note on Friday, September 13th. Barclays increased their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 price target on shares of Adobe in a research report on Tuesday, October 15th. Finally, Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Performance

Shares of Adobe stock opened at $513.68 on Friday. 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 firm has a market capitalization of $226.12 billion, a P/E ratio of 43.39, a P/E/G ratio of 2.65 and a beta of 1.30. The business has a fifty day simple moving average of $503.14 and a two-hundred day simple moving average of $519.72. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.26 earnings per share. On average, equities analysts forecast that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

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.