4,544 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd purchased 4,544 shares of Adobe Inc., valued at approximately $1,743,000, enhancing its position in the software market.
• Adobe's recent quarterly earnings reported an EPS of $5.06, exceeding analysts' forecasts of $4.97, with revenue reaching $5.87 billion.
• Analysts have varied outlooks on Adobe stock, with ratings ranging from "sell" to "buy," contributing to a consensus rating of "Moderate Buy" and a price target of $467.58.

S Bank Fund Management Ltd acquired a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,544 shares of the software company's stock, valued at approximately $1,743,000.

A number of other hedge funds also recently added to or reduced their stakes in ADBE. Brighton Jones LLC lifted its stake in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after acquiring an additional 167 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after buying an additional 756 shares during the last quarter. Keystone Financial Group lifted its position in shares of Adobe by 99.2% during the fourth quarter. Keystone Financial Group now owns 783 shares of the software company's stock valued at $350,000 after buying an additional 390 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of Adobe by 6.6% during the fourth quarter. Cohen & Steers Inc. now owns 760 shares of the software company's stock valued at $338,000 after buying an additional 47 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its position in shares of Adobe by 0.3% during the fourth quarter. CreativeOne Wealth LLC now owns 8,555 shares of the software company's stock valued at $3,804,000 after buying an additional 28 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Citigroup decreased their price target on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Mizuho decreased their price target on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Finally, Melius lowered shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a research report on Monday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and a consensus price target of $467.58.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $338.43 on Wednesday. The stock has a market capitalization of $143.56 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.58 and a beta of 1.51. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. The firm's 50 day simple moving average is $375.67 and its 200-day simple moving average is $394.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $4.48 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

About Adobe

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.

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