Financial Counselors Inc. Has $24.11 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Financial Counselors Inc. lifted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,851 shares of the software company's stock after purchasing 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 hedge funds have also recently bought and sold shares of ADBE. Norges Bank acquired a new stake in Adobe during the 4th quarter valued at approximately $2,553,035,000. GAMMA Investing LLC increased its stake in shares of Adobe by 46,806.6% in the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after buying an additional 2,984,391 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Adobe by 82.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after buying an additional 952,233 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Adobe by 1,414.5% in the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock worth $395,321,000 after buying an additional 830,300 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Adobe during the fourth quarter valued at $365,750,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

NASDAQ ADBE traded down $1.95 on Thursday, reaching $371.43. The company's stock had a trading volume of 4,019,628 shares, compared to its average volume of 3,448,625. The firm's 50 day moving average is $396.44 and its two-hundred day moving average is $406.94. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $157.56 billion, a PE ratio of 23.76, a PEG ratio of 1.81 and a beta of 1.51. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (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 business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.48 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADBE. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a research note on Wednesday, July 2nd. KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and reduced their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Mizuho reduced their price target on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $450.00 price target on shares of Adobe in a report on Friday, June 13th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Adobe has a consensus rating of "Moderate Buy" and an average target price of $480.08.

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.