First Financial Bankshares Inc Buys 213 Shares of Adobe Inc. (NASDAQ:ADBE)

First Financial Bankshares Inc grew its stake in Adobe Inc. (NASDAQ:ADBE) by 2.8% during the third quarter, Holdings Channel reports. The firm owned 7,697 shares of the software company’s stock after purchasing an additional 213 shares during the period. First Financial Bankshares Inc’s holdings in Adobe were worth $3,985,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Onyx Bridge Wealth Group LLC grew its stake in shares of Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after acquiring an additional 19 shares in the last quarter. HTLF Bank increased its stake in Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after buying an additional 19 shares during the last quarter. Commonwealth Financial Services LLC lifted its position in shares of Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after buying an additional 19 shares in the last quarter. Orrstown Financial Services Inc. boosted its stake in shares of Adobe by 0.9% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock worth $1,257,000 after buying an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC grew its holdings in shares of Adobe by 0.3% in the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock valued at $3,815,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Sanford C. Bernstein dropped their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Piper Sandler reissued an “overweight” rating and issued a $635.00 price target on shares of Adobe in a report on Friday, September 13th. Piper Sandler Companies restated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Finally, Barclays increased their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Performance

Adobe stock opened at $483.72 on Monday. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. 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 $214.48 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The firm’s 50 day simple moving average is $530.03 and its 200 day simple moving average is $515.96.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for 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%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 earnings per share. As a group, analysts expect that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Daniel Durn sold 6,500 shares of the 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 owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,030 shares of company stock worth $17,176,005. 0.15% of the stock is currently owned by insiders.

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.