Stephens Inc. AR Grows Holdings in Adobe Inc. (NASDAQ:ADBE)

Stephens Inc. AR increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,011 shares of the software company's stock after purchasing an additional 1,149 shares during the period. Stephens Inc. AR's holdings in Adobe were worth $18,030,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BankPlus Trust Department increased its holdings in shares of Adobe by 8,100.0% during the first quarter. BankPlus Trust Department now owns 164 shares of the software company's stock valued at $63,000 after acquiring an additional 162 shares in the last quarter. Kathmere Capital Management LLC increased its stake in Adobe by 20.5% during the 1st quarter. Kathmere Capital Management LLC now owns 3,232 shares of the software company's stock valued at $1,240,000 after purchasing an additional 550 shares in the last quarter. Ballentine Partners LLC raised its holdings in Adobe by 14.8% during the first quarter. Ballentine Partners LLC now owns 8,082 shares of the software company's stock worth $3,099,000 after buying an additional 1,041 shares during the last quarter. Riversedge Advisors LLC acquired a new position in Adobe during the first quarter worth $207,000. Finally, Callahan Advisors LLC lifted its stake in shares of Adobe by 34.7% in the first quarter. Callahan Advisors LLC now owns 19,620 shares of the software company's stock valued at $7,525,000 after buying an additional 5,054 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Summit Redstone set a $410.00 target price on shares of Adobe in a research report on Wednesday, March 19th. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and decreased their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Oppenheimer lowered their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Robert W. Baird lifted their target price on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Finally, Bank of America raised their price objective on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $473.88.

Adobe Price Performance

Shares of ADBE stock traded down $8.08 during trading hours on Friday, reaching $363.35. The stock had a trading volume of 3,545,215 shares, compared to its average volume of 3,460,173. The stock's fifty day simple moving average is $396.03 and its 200 day simple moving average is $405.54. The firm has a market capitalization of $154.13 billion, a PE ratio of 23.25, a PEG ratio of 1.72 and a beta of 1.51. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly 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 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 business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $4.48 EPS. On average, equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company 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.