Brooklyn Investment Group Raises Stake in Adobe Inc. $ADBE

Key Points

• Brooklyn Investment Group increased its stake in Adobe Inc. by 40%, acquiring an additional 1,358 shares, bringing their total holdings to 4,752 shares worth approximately $1.82 million.
• Adobe reported a strong quarterly earnings performance, with earnings per share of $5.06, surpassing analysts' expectations and marking a year-over-year revenue increase of 10.6%.
• Several analysts recently adjusted their price targets for Adobe, with a consensus target price now at $467.58, indicating a generally positive outlook with a "Moderate Buy" rating.

Brooklyn Investment Group raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 40.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,752 shares of the software company's stock after buying an additional 1,358 shares during the period. Brooklyn Investment Group's holdings in Adobe were worth $1,823,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ADBE. Siemens Fonds Invest GmbH increased its holdings in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the 1st quarter worth $26,000. SWAN Capital LLC bought a new position in shares of Adobe in the 4th quarter worth $28,000. Copia Wealth Management bought a new position in shares of Adobe in the 4th quarter worth $28,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Adobe in the 1st quarter worth $30,000. Institutional investors own 81.79% of the company's stock.

Adobe Trading Up 0.7%

Shares of NASDAQ:ADBE traded up $2.39 on Monday, hitting $357.24. The company had a trading volume of 2,920,441 shares, compared to its average volume of 3,647,353. The firm's 50-day simple moving average is $370.66 and its two-hundred day simple moving average is $391.57. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $151.54 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 1.68 and a beta of 1.51.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on ADBE. Evercore ISI reaffirmed an "outperform" rating and set a $475.00 target price on shares of Adobe in a report on Friday, June 13th. Oppenheimer reduced their target price 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. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. BMO Capital Markets reaffirmed an "outperform" rating and set a $450.00 target price on shares of Adobe in a report on Friday, June 13th. Finally, UBS Group increased their target price on shares of Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a report on Monday, June 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $467.58.

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.