Wilson Asset Management International PTY Ltd. Has $15.34 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Wilson Asset Management International PTY Ltd. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 7.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,992 shares of the software company's stock after buying an additional 2,867 shares during the quarter. Adobe accounts for about 4.1% of Wilson Asset Management International PTY Ltd.'s portfolio, making the stock its 9th largest holding. Wilson Asset Management International PTY Ltd.'s holdings in Adobe were worth $15,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Sepio Capital LP lifted its holdings in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after buying an additional 22 shares in the last quarter. Cadence Bank increased its position in shares of Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after acquiring an additional 22 shares during the last quarter. Eagle Strategies LLC increased its position in shares of Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after acquiring an additional 22 shares during the last quarter. RB Capital Management LLC lifted its stake in shares of Adobe by 0.4% in the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after acquiring an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC boosted its holdings in Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after purchasing an additional 23 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Robert W. Baird boosted their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Morgan Stanley cut their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $280.00 price target (down from $420.00) on shares of Adobe in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Adobe currently has a consensus rating of "Moderate Buy" and a consensus target price of $480.08.

Adobe Stock Performance

NASDAQ ADBE traded down $13.63 on Wednesday, hitting $378.47. The stock had a trading volume of 6,906,864 shares, compared to its average volume of 3,424,061. The company's 50-day moving average is $394.95 and its two-hundred day moving average is $409.57. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The stock has a market cap of $160.55 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 1.83 and a beta of 1.51. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.80 billion. During the same period in the prior year, the company posted $4.48 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

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.