Adobe Inc. (NASDAQ:ADBE) Holdings Raised by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA grew its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,552 shares of the software company's stock after purchasing an additional 925 shares during the period. Adobe comprises about 1.3% of Baldwin Wealth Partners LLC MA's holdings, making the stock its 25th biggest holding. Baldwin Wealth Partners LLC MA's holdings in Adobe were worth $17,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of ADBE. Siemens Fonds Invest GmbH lifted its holdings in shares of Adobe by 252.9% during 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 purchased a new stake in shares of Adobe during the fourth quarter valued at $28,000. Copia Wealth Management purchased a new stake in shares of Adobe during the fourth quarter valued at $28,000. Summit Securities Group LLC purchased a new stake in shares of Adobe during the fourth quarter valued at $31,000. Finally, Bernard Wealth Management Corp. purchased a new stake in Adobe in the 4th quarter worth about $36,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADBE has been the subject of several research analyst reports. Piper Sandler reduced their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Mizuho reduced their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. DA Davidson reduced their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $480.00 price objective on shares of Adobe in a research note on Thursday. Finally, Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $502.88.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.16% of the company's stock.

Adobe Stock Performance

ADBE opened at $416.92 on Monday. The firm has a market capitalization of $177.69 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The stock's 50 day moving average price is $381.41 and its two-hundred day moving average price is $424.16. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the firm posted $4.48 EPS. On average, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

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.

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