Adobe Inc. (NASDAQ:ADBE) Shares Bought by Copperwynd Financial LLC

Copperwynd Financial LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,729 shares of the software company's stock after purchasing an additional 1,117 shares during the period. Copperwynd Financial LLC's holdings in Adobe were worth $1,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after purchasing an additional 167 shares during the period. Bank Pictet & Cie Europe AG increased its stake 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 valued at $12,882,000 after purchasing an additional 756 shares in the last quarter. GHE LLC increased its stake in Adobe by 2.9% during the 4th quarter. GHE LLC now owns 23,577 shares of the software company's stock valued at $10,484,000 after purchasing an additional 670 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Adobe by 85.8% in the fourth quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock worth $1,043,000 after acquiring an additional 1,083 shares during the period. Finally, Magnetar Financial LLC lifted its stake in shares of Adobe by 29.5% in the 4th quarter. Magnetar Financial LLC now owns 729 shares of the software company's stock worth $324,000 after purchasing an additional 166 shares during the period. Institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research reports. UBS Group boosted their price target on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research report on Monday, June 9th. Citigroup lowered their price target on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Stifel Nicolaus lowered their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Morgan Stanley decreased their price objective on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $473.88.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded down $0.66 during mid-day trading on Friday, reaching $365.79. The company had a trading volume of 2,445,698 shares, compared to its average volume of 3,477,489. The company's 50-day moving average price is $394.20 and its 200-day moving average price is $402.72. 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 one year low of $332.01 and a one year high of $587.75. The firm has a market cap of $155.17 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.73 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 earnings per share (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 company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the business earned $4.48 earnings per share. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS 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.