Briaud Financial Planning Inc Purchases New Position in Adobe Inc. (NASDAQ:ADBE)

Briaud Financial Planning Inc acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the third quarter, Holdings Channel reports. The fund acquired 70 shares of the software company’s stock, valued at approximately $36,000.

A number of other institutional investors have also recently bought and sold shares of ADBE. Bessemer Group Inc. lifted its holdings in shares of Adobe by 47.9% during the 1st quarter. Bessemer Group Inc. now owns 33,346 shares of the software company’s stock worth $16,827,000 after acquiring an additional 10,793 shares during the period. Carlson Capital L P bought a new stake in shares of Adobe during the 1st quarter worth approximately $5,626,000. EP Wealth Advisors LLC lifted its holdings in shares of Adobe by 0.8% during the 1st quarter. EP Wealth Advisors LLC now owns 8,583 shares of the software company’s stock worth $4,331,000 after acquiring an additional 71 shares during the period. Axxcess Wealth Management LLC lifted its holdings in shares of Adobe by 4.6% during the 1st quarter. Axxcess Wealth Management LLC now owns 20,884 shares of the software company’s stock worth $10,538,000 after acquiring an additional 910 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Adobe by 17.3% during the 1st quarter. Advisors Asset Management Inc. now owns 18,571 shares of the software company’s stock worth $9,371,000 after acquiring an additional 2,734 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADBE. Barclays increased their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Oppenheimer reissued an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Bank of America reissued a “buy” rating and issued a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Trading Up 0.0 %

ADBE opened at $499.61 on Wednesday. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $506.89 and a 200-day moving average of $518.95. The stock has a market cap of $219.93 billion, a PE ratio of 42.20, a price-to-earnings-growth ratio of 2.59 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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 company 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%. Adobe’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.26 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 14.82 EPS for the current 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.