Achmea Investment Management B.V. Raises Holdings in Adobe Inc. (NASDAQ:ADBE)

Achmea Investment Management B.V. raised its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 25.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,029 shares of the software company's stock after acquiring an additional 13,121 shares during the quarter. Achmea Investment Management B.V.'s holdings in Adobe were worth $24,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ADBE. Siemens Fonds Invest GmbH grew its stake in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the last quarter. SWAN Capital LLC bought a new stake in shares of Adobe in the 4th quarter valued at about $28,000. Copia Wealth Management purchased a new position in shares of Adobe in the 4th quarter worth approximately $28,000. Summit Securities Group LLC purchased a new stake in Adobe during the fourth quarter valued at approximately $31,000. Finally, Garde Capital Inc. purchased a new position in Adobe in the first quarter worth $34,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

NASDAQ:ADBE opened at $384.95 on Friday. The company has a 50 day moving average price of $392.49 and a 200-day moving average price of $412.76. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The firm has a market cap of $164.07 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ADBE shares. Robert W. Baird raised their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Stifel Nicolaus dropped their price target on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Oppenheimer cut their price objective on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Finally, Morgan Stanley dropped their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and a consensus price target of $496.75.

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.

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