Captrust Financial Advisors Raises Position in Adobe Inc (ADBE)

Captrust Financial Advisors increased its stake in shares of Adobe Inc (NASDAQ:ADBE) by 7.3% in the 4th quarter, Holdings Channel reports. The firm owned 3,237 shares of the software company’s stock after buying an additional 219 shares during the quarter. Captrust Financial Advisors’ holdings in Adobe were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ADBE. Kinneret Advisory LLC purchased a new stake in Adobe in the 4th quarter worth approximately $2,765,000. Epoch Investment Partners Inc. purchased a new stake in Adobe in the 4th quarter worth approximately $4,398,000. Magnus Financial Group LLC purchased a new stake in Adobe in the 4th quarter worth approximately $221,000. California State Teachers Retirement System grew its stake in Adobe by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 875,359 shares of the software company’s stock worth $198,041,000 after acquiring an additional 20,925 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Adobe by 23.2% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,303 shares of the software company’s stock worth $294,000 after acquiring an additional 245 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

ADBE has been the subject of several research reports. Citigroup lowered their price objective on shares of Adobe from $309.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 10th. ValuEngine cut shares of Adobe from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Zacks Investment Research cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. DZ Bank raised shares of Adobe from a “hold” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, December 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $255.00 price target on shares of Adobe in a research report on Friday, December 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $284.44.

Shares of ADBE stock opened at $267.69 on Friday. Adobe Inc has a 12 month low of $204.95 and a 12 month high of $277.61. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $129.31 billion, a price-to-earnings ratio of 48.23, a PEG ratio of 2.59 and a beta of 1.10.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 14th. The software company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.09. Adobe had a net margin of 28.69% and a return on equity of 31.19%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The firm’s revenue was up 24.1% compared to the same quarter last year. Sell-side analysts forecast that Adobe Inc will post 6.21 EPS for the current fiscal year.

In other Adobe news, EVP Ann Lewnes sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $258.13, for a total value of $774,390.00. Following the transaction, the executive vice president now owns 72,368 shares in the company, valued at approximately $18,680,351.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Shantanu Narayen sold 139,834 shares of the company’s stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $245.40, for a total transaction of $34,315,263.60. The disclosure for this sale can be found here. Insiders sold a total of 282,344 shares of company stock worth $69,007,648 in the last quarter. 0.32% of the stock is currently owned by company insiders.

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Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, 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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