Dynasty Wealth Management LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 19.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,923 shares of the software company's stock after acquiring an additional 806 shares during the quarter. Dynasty Wealth Management LLC's holdings in Adobe were worth $1,888,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings 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 shares of Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after buying an additional 756 shares during the period. GHE LLC lifted its holdings in shares of Adobe by 2.9% in the 4th quarter. GHE LLC now owns 23,577 shares of the software company's stock valued at $10,484,000 after buying an additional 670 shares during the period. Proficio Capital Partners LLC lifted 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 buying an additional 1,083 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in shares of Adobe by 1.8% in the 4th quarter. Harbour Investments Inc. now owns 3,457 shares of the software company's stock valued at $1,537,000 after buying an additional 60 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently commented on ADBE shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 price target on shares of Adobe in a report on Thursday, June 5th. Oppenheimer reduced their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Stifel Nicolaus reduced their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Finally, Bank of America lifted their price objective on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and an average target price of $473.88.
View Our Latest Research Report on ADBE
Adobe Trading Down 0.2%
Shares of NASDAQ:ADBE traded down $0.66 during midday trading on Friday, reaching $365.79. The company's stock had a trading volume of 2,445,698 shares, compared to its average volume of 3,468,843. The firm has a market cap of $155.17 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.72 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 Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The business has a 50 day moving average price of $394.55 and a 200 day moving average price of $403.55.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.48 earnings per share. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.
About Adobe
(
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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