Brio Consultants LLC Takes $3.53 Million Position in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Brio Consultants LLC has acquired a new stake in Adobe Inc. worth approximately $3.53 million, representing about 1.3% of its overall holdings.
• Recent equity analysts have set varying price targets for Adobe's stock, ranging from $450.00 to $500.00, with an average price target of $473.88 suggesting a "Moderate Buy" rating.
• Adobe reported $5.06 earnings per share for the last quarter, exceeding analysts' expectations and showing a year-over-year revenue increase of 10.6%.

Brio Consultants LLC bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 9,201 shares of the software company's stock, valued at approximately $3,529,000. Adobe comprises 1.3% of Brio Consultants LLC's holdings, making the stock its 16th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Copia Wealth Management purchased a new position in shares of Adobe during the 4th quarter valued at approximately $28,000. SWAN Capital LLC purchased a new position in shares of Adobe during the 4th quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe during the 1st quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Adobe during the 4th quarter valued at approximately $31,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Adobe during the 4th quarter valued at approximately $36,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 price target on shares of Adobe in a research report on Thursday, June 5th. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Mizuho dropped their price target on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. BMO Capital Markets reissued an "outperform" rating and set a $450.00 price target on shares of Adobe in a research report on Friday, June 13th. Finally, Bank of America upped their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $473.88.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $369.47 on Tuesday. The stock has a market cap of $156.73 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.76 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 Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock's 50 day moving average price is $389.99 and its 200 day moving average price is $400.32.

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 (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $5.80 billion. During the same period last year, the firm earned $4.48 EPS. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.

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