GFG Capital LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 28.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,162 shares of the software company's stock after purchasing an additional 1,355 shares during the period. GFG Capital LLC's holdings in Adobe were worth $2,363,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after buying an additional 167 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Adobe by 2.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after buying an additional 756 shares in the last quarter. GHE LLC lifted its holdings in Adobe by 2.9% during the 4th quarter. GHE LLC now owns 23,577 shares of the software company's stock worth $10,484,000 after buying an additional 670 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Adobe by 85.8% in the 4th quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock valued at $1,043,000 after purchasing an additional 1,083 shares in the last quarter. Finally, Independent Advisor Alliance raised its holdings in shares of Adobe by 42.6% in the 4th quarter. Independent Advisor Alliance now owns 26,661 shares of the software company's stock valued at $11,855,000 after purchasing an additional 7,963 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ADBE. Oppenheimer dropped their target price on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Mizuho reduced their target price on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Redburn Atlantic cut shares of Adobe from a "hold" rating to a "strong sell" rating and reduced their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Rothschild & Co Redburn cut shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $480.08.
Read Our Latest Report on ADBE
Adobe Stock Up 1.4%
Shares of NASDAQ:ADBE opened at $382.24 on Wednesday. The stock has a market capitalization 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 Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company's fifty day moving average is $396.48 and its two-hundred day moving average is $407.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99.
Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. Adobe's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $4.48 EPS. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.
Adobe Profile
(
Free Report)
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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