Adobe Inc. (NASDAQ:ADBE) Shares Bought by Brookstone Capital Management

Brookstone Capital Management lifted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 132.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,046 shares of the software company's stock after purchasing an additional 6,288 shares during the period. Brookstone Capital Management's holdings in Adobe were worth $4,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Harel Insurance Investments & Financial Services Ltd. raised its stake in Adobe by 32.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 83,409 shares of the software company's stock valued at $31,990,000 after buying an additional 20,621 shares in the last quarter. IFM Investors Pty Ltd raised its stake in Adobe by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 93,563 shares of the software company's stock valued at $35,884,000 after buying an additional 7,352 shares in the last quarter. GF Fund Management CO. LTD. raised its stake in Adobe by 3.3% in the first quarter. GF Fund Management CO. LTD. now owns 86,172 shares of the software company's stock valued at $33,050,000 after buying an additional 2,744 shares in the last quarter. Avantax Planning Partners Inc. raised its stake in Adobe by 6.7% in the first quarter. Avantax Planning Partners Inc. now owns 2,963 shares of the software company's stock valued at $1,136,000 after buying an additional 186 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its stake in Adobe by 144.0% in the first quarter. Aviance Capital Partners LLC now owns 8,367 shares of the software company's stock valued at $3,209,000 after buying an additional 4,938 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE traded up $5.31 during trading on Tuesday, hitting $382.24. 3,707,186 shares of the stock were exchanged, compared to its average volume of 3,436,092. The company has a fifty day moving average price of $396.25 and a two-hundred day moving average price of $407.34. The company has a market cap of $162.15 billion, a PE ratio of 24.46, a P/E/G ratio of 1.79 and a beta of 1.51. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the firm posted $4.48 EPS. The company's quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. BMO Capital Markets reiterated an "outperform" rating and set a $450.00 target price on shares of Adobe in a research report on Friday, June 13th. Mizuho cut their target price on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Bank of America lifted their target price on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. 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. Finally, JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $480.08.

About Adobe

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.