Iyo Bank Ltd. boosted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,475 shares of the software company's stock after purchasing an additional 2,245 shares during the period. Adobe comprises approximately 4.3% of Iyo Bank Ltd.'s investment portfolio, making the stock its 7th biggest position. Iyo Bank Ltd.'s holdings in Adobe were worth $13,222,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after purchasing an additional 2,984,391 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after acquiring an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Adobe in the 1st quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after acquiring an additional 1,216,351 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock worth $395,321,000 after acquiring an additional 830,300 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ADBE has been the subject of several analyst reports. UBS Group increased their price objective on shares of Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research note on Monday, June 9th. Melius Research upgraded shares of Adobe to a "strong sell" rating in a research note on Monday. Citigroup reduced their target price on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 target price on shares of Adobe in a research report on Thursday, June 5th. Finally, Mizuho cut their price objective on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and a consensus target price of $467.58.
Check Out Our Latest Analysis on Adobe
Adobe Stock Performance
ADBE traded up $12.64 during trading hours on Wednesday, hitting $351.07. 4,371,225 shares of the stock were exchanged, compared to its average volume of 3,525,012. The stock has a 50-day simple moving average of $374.41 and a 200-day simple moving average of $394.07. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. The stock has a market cap of $148.92 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 1.60 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99.
Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. Adobe's revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.48 earnings per share. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.
Adobe 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.
Further Reading
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