Adobe Inc. (NASDAQ:ADBE) Shares Bought by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in Adobe by 52.8%, acquiring a total of 8,040 shares, valued at approximately $3.1 million.
• As of the latest reports, the stock has a consensus target price of $473.88, with various analysts issuing ratings ranging from "strong sell" to "strong buy".
• Adobe reported earnings of $5.06 per share for the last quarter, exceeding expectations, and indicated a revenue increase of 10.6% year-over-year.

J. Safra Sarasin Holding AG lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 52.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,040 shares of the software company's stock after acquiring an additional 2,779 shares during the period. J. Safra Sarasin Holding AG's holdings in Adobe were worth $3,105,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADBE. Sepio Capital LP raised its position in Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after purchasing an additional 22 shares in the last quarter. Cadence Bank boosted its position in shares of Adobe by 0.5% in the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC boosted its position in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares in the last quarter. RB Capital Management LLC boosted its position in shares of Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after purchasing an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC boosted its position in shares of Adobe by 3.8% in the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after purchasing an additional 23 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADBE. Stifel Nicolaus reduced their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Oppenheimer reduced 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. Citigroup dropped their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Finally, UBS Group upped their price target on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $473.88.

Adobe Price Performance

ADBE stock traded down $8.95 on Monday, reaching $338.85. The company had a trading volume of 6,439,554 shares, compared to its average volume of 3,284,436. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The company's fifty day moving average is $385.72 and its 200 day moving average is $398.74. The company has a market cap of $143.74 billion, a P/E ratio of 21.68, a PEG ratio of 1.65 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the company posted $4.48 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe 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.