Financial Counselors Inc. Increases Stock Position in Adobe Inc. (NASDAQ:ADBE)

Financial Counselors Inc. grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,851 shares of the software company's stock after acquiring an additional 5,298 shares during the period. Financial Counselors Inc.'s holdings in Adobe were worth $24,105,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of 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 acquiring an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe during the first quarter worth about $26,000. SWAN Capital LLC bought a new stake in shares of Adobe during the fourth quarter worth about $28,000. Copia Wealth Management bought a new stake in shares of Adobe during the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Adobe during the fourth quarter worth about $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 1.4%

Adobe stock traded up $5.31 during mid-day trading on Tuesday, hitting $382.24. The company's stock had a trading volume of 3,707,186 shares, compared to its average volume of 3,436,092. The business has a 50 day moving average price of $396.25 and a 200-day moving average price of $407.34. 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 Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock has a market cap of $162.15 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.79 and a beta of 1.51.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ADBE shares. UBS Group boosted their price target on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Piper Sandler dropped their target price on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets restated an "outperform" rating and set a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. Finally, DA Davidson restated a "buy" rating and set a $500.00 price target on shares of Adobe in a research note on Friday, June 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $480.08.

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.