Bristlecone Advisors LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,674 shares of the software company's stock after acquiring an additional 2,333 shares during the quarter. Bristlecone Advisors LLC's holdings in Adobe were worth $4,861,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ADBE. Brighton Jones LLC lifted its holdings in shares of Adobe by 2.1% in 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 in the last quarter. Bank Pictet & Cie Europe AG increased its position in Adobe by 2.7% during the fourth 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. CenterBook Partners LP acquired a new position in shares of Adobe in the fourth quarter worth $531,000. Phoenix Financial Ltd. boosted its stake in shares of Adobe by 18.3% during the fourth quarter. Phoenix Financial Ltd. now owns 64,070 shares of the software company's stock valued at $28,492,000 after acquiring an additional 9,901 shares during the last quarter. Finally, Scotia Capital Inc. increased its position in Adobe by 22.1% during the 4th quarter. Scotia Capital Inc. now owns 198,106 shares of the software company's stock worth $88,095,000 after purchasing an additional 35,791 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.
Adobe Trading Down 2.1%
NASDAQ:ADBE opened at $338.27 on Friday. The company has a market cap of $143.49 billion, a PE ratio of 21.64, a P/E/G ratio of 1.64 and a beta of 1.51. The business's 50 day moving average is $380.02 and its two-hundred day moving average is $396.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. Adobe's revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.48 earnings per share. On average, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research note on Monday, June 9th. Piper Sandler decreased their target price on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 price target on shares of Adobe in a research note on Thursday, June 5th. Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Finally, DA Davidson reiterated a "buy" rating and set a $500.00 target price on shares of Adobe in a research report on Friday, June 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and a consensus target price of $473.88.
Read Our Latest Report on Adobe
Adobe Company 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.
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