Liontrust Investment Partners LLP Purchases 2,107 Shares of Adobe Inc. (NASDAQ:ADBE)

Key Points

• Liontrust Investment Partners LLP increased its holdings in Adobe Inc. by 8.1% in Q1, owning 27,998 shares valued at approximately $10.7 million.
• Adobe's latest earnings report showed a 10.6% increase in revenue year-over-year, reaching $5.87 billion, with an EPS of $5.06, surpassing estimates.
• The consensus rating for Adobe stock is a "Moderate Buy" with a target price of $467.58 according to equities research analysts.

Liontrust Investment Partners LLP increased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,998 shares of the software company's stock after purchasing an additional 2,107 shares during the period. Liontrust Investment Partners LLP's holdings in Adobe were worth $10,738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH boosted its position in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the first quarter worth approximately $26,000. SWAN Capital LLC acquired a new position in shares of Adobe during the fourth quarter worth approximately $28,000. Copia Wealth Management acquired a new position in shares of Adobe during the fourth quarter worth approximately $28,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the first quarter worth approximately $30,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 1.8%

NASDAQ ADBE traded up $6.27 on Friday, hitting $354.85. The company's stock had a trading volume of 3,716,829 shares, compared to its average volume of 3,584,382. 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 $330.04 and a 1-year high of $587.75. The company's 50-day moving average is $371.84 and its 200 day moving average is $392.50. The firm has a market cap of $150.53 billion, a PE ratio of 22.70, a PEG ratio of 1.68 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last posted 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. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the firm posted $4.48 EPS. The company's quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ADBE shares. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Evercore ISI reiterated an "outperform" rating and set a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a research report on Monday, August 11th. Piper Sandler reduced their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Three equities research 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's stock. Based on data from MarketBeat.com, Adobe has a consensus rating of "Moderate Buy" and an average price target of $467.58.

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.