Berger Financial Group Inc lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 60.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 979 shares of the software company's stock after selling 1,499 shares during the quarter. Berger Financial Group Inc's holdings in Adobe were worth $375,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Siemens Fonds Invest GmbH raised its position in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe during the 1st quarter worth about $26,000. SWAN Capital LLC bought a new stake in Adobe during the 4th quarter worth about $28,000. Copia Wealth Management acquired a new stake in Adobe in the 4th quarter valued at about $28,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Adobe in the first quarter worth about $30,000. Institutional investors own 81.79% of the company's stock.
Adobe Stock Up 1.4%
Shares of ADBE stock traded up $4.78 on Tuesday, hitting $338.43. 3,569,055 shares of the stock were exchanged, compared to its average volume of 3,473,941. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week 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. The business has a 50-day moving average of $377.15 and a 200 day moving average of $394.76. The firm has a market capitalization of $143.56 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.58 and a beta of 1.51.
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. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.
Wall Street Analysts Forecast Growth
ADBE has been the subject of a number of research reports. JMP Securities reissued a "market perform" rating on shares of Adobe in a report on Monday, June 23rd. Stifel Nicolaus dropped their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research report on Friday, June 13th. Piper Sandler dropped their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Bank of America boosted their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Oppenheimer cut their target price on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $467.58.
Get Our Latest Report on ADBE
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.
Featured Articles
Before you consider Adobe, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adobe wasn't on the list.
While Adobe currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access