Leelyn Smith LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 10,414 shares of the software company's stock after buying an additional 736 shares during the period. Leelyn Smith LLC's holdings in Adobe were worth $3,994,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Garde Capital Inc. purchased a new stake in Adobe during the 1st quarter worth approximately $34,000. Krane Funds Advisors LLC increased its stake in Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after buying an additional 730 shares in the last quarter. Burling Wealth Partners LLC purchased a new stake in Adobe during the 4th quarter worth approximately $1,173,000. Financial Counselors Inc. increased its stake in Adobe by 9.2% during the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after buying an additional 5,298 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its stake in Adobe by 36.2% during the 1st quarter. Summit Trail Advisors LLC now owns 9,719 shares of the software company's stock worth $3,728,000 after buying an additional 2,583 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.
Adobe Stock Down 0.7%
Shares of NASDAQ:ADBE traded down $2.41 during trading on Wednesday, hitting $361.77. The company's stock had a trading volume of 3,394,426 shares, compared to its average volume of 3,461,075. The business has a 50 day moving average price of $395.36 and a two-hundred day moving average price of $404.39. The company has a market capitalization of $153.46 billion, a PE ratio of 23.15, a P/E/G ratio of 1.74 and a beta of 1.51. 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 Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.
Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.48 earnings per share. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $480.00 price objective on shares of Adobe in a research note on Thursday, June 5th. Mizuho decreased their target price on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. UBS Group raised their target price on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research note on Monday, June 9th. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $473.88.
Check Out Our Latest Stock Report on ADBE
Adobe Company 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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