Asset Management One Co. Ltd. grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 219,510 shares of the software company's stock after buying an additional 7,016 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.05% of Adobe worth $84,189,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Adobe by 2.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after buying an additional 756 shares in the last quarter. MONECO Advisors LLC boosted its position in Adobe by 14.0% in the 4th quarter. MONECO Advisors LLC now owns 832 shares of the software company's stock valued at $370,000 after buying an additional 102 shares during the last quarter. Conscious Wealth Investments LLC increased its stake in shares of Adobe by 8.9% in the 4th quarter. Conscious Wealth Investments LLC now owns 5,101 shares of the software company's stock valued at $2,193,000 after buying an additional 416 shares during the period. Finally, Roffman Miller Associates Inc. PA raised its position in shares of Adobe by 6.1% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 42,388 shares of the software company's stock worth $18,849,000 after acquiring an additional 2,429 shares during the last quarter. 81.79% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
ADBE has been the topic of several recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $480.00 price target on shares of Adobe in a report on Thursday, June 5th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. JMP Securities restated a "market perform" rating on shares of Adobe in a report on Monday. Summit Redstone set a $410.00 price objective on shares of Adobe in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $470.00 target price (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $496.75.
Check Out Our Latest Stock Analysis on ADBE
Adobe Stock Up 1.3%
Shares of ADBE traded up $5.08 during mid-day trading on Wednesday, hitting $387.42. 2,952,217 shares of the company's stock were exchanged, compared to its average volume of 3,402,767. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a market cap of $165.12 billion, a PE ratio of 24.79, a P/E/G ratio of 1.80 and a beta of 1.55. The company has a 50-day simple moving average of $390.90 and a 200 day simple moving average of $414.07.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter in the prior year, the company posted $4.48 earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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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