Crossmark Global Holdings Inc. Has $12.21 Million Position in Adobe Inc. (NASDAQ:ADBE)

Crossmark Global Holdings Inc. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 26.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,825 shares of the software company's stock after purchasing an additional 6,581 shares during the period. Crossmark Global Holdings Inc.'s holdings in Adobe were worth $12,206,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Siemens Fonds Invest GmbH lifted its holdings in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the first quarter worth about $26,000. SWAN Capital LLC bought a new position in Adobe in the fourth quarter worth about $28,000. Copia Wealth Management bought a new position in Adobe in the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new position in Adobe in the fourth quarter worth about $31,000. Institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADBE. Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 target price on shares of Adobe in a report on Thursday, June 5th. Robert W. Baird raised their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Mizuho dropped their price target on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Wells Fargo & Company restated an "overweight" rating and issued a $470.00 price target (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Finally, Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and dropped their price target for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $480.08.

Adobe Price Performance

Adobe stock traded down $8.08 during mid-day trading on Friday, hitting $363.35. The company's stock had a trading volume of 3,545,215 shares, compared to its average volume of 3,454,388. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $154.13 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.76 and a beta of 1.51. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The stock's fifty day moving average price is $396.03 and its two-hundred day moving average price is $405.83.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly 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 firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the business posted $4.48 earnings per share. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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.