Metis Global Partners LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,577 shares of the software company's stock after purchasing an additional 2,616 shares during the period. Metis Global Partners LLC's holdings in Adobe were worth $11,344,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH lifted its position in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe during the 1st quarter valued at $26,000. SWAN Capital LLC purchased a new position in shares of Adobe during the 4th quarter valued at $28,000. Copia Wealth Management acquired a new position in shares of Adobe in the fourth quarter worth $28,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Adobe during the fourth quarter worth $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on ADBE shares. BMO Capital Markets restated an "outperform" rating and issued a $450.00 target price on shares of Adobe in a research note on Friday, June 13th. Citigroup reduced their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research note on Saturday. Two 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $473.88.
Read Our Latest Research Report on Adobe
Adobe Stock Performance
NASDAQ ADBE opened at $370.74 on Friday. The company's fifty day moving average is $391.01 and its two-hundred day moving average is $400.71. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $157.27 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.76 and a beta of 1.51.
Adobe (NASDAQ:ADBE - Get Free Report) last released its 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 business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the business earned $4.48 earnings per share. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.
About Adobe
(
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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