Fiduciary Family Office LLC Invests $934,000 in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Fiduciary Family Office LLC has invested approximately $934,000 in Adobe Inc., acquiring 2,436 shares during the first quarter.
• Adobe reported $5.06 EPS for its most recent quarter, exceeding analysts' expectations, with revenue of $5.87 billion, up 10.6% year-over-year.
• Analyst ratings vary, with target prices ranging from $450 to $530, indicating a generally positive sentiment with an average rating of "Moderate Buy."

Fiduciary Family Office LLC acquired a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 2,436 shares of the software company's stock, valued at approximately $934,000.

A number of other large investors have also recently made changes to their positions in ADBE. Siemens Fonds Invest GmbH boosted 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 in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter worth $26,000. SWAN Capital LLC bought a new stake in Adobe in the fourth quarter worth $28,000. Copia Wealth Management bought a new stake in Adobe in the fourth quarter worth $28,000. Finally, HHM Wealth Advisors LLC bought a new stake in Adobe in the first quarter worth $30,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

NASDAQ:ADBE opened at $341.05 on Friday. The firm has a market capitalization of $144.67 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.60 and a beta of 1.51. The business's fifty day moving average price is $378.55 and its 200 day moving average price is $396.05. 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.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its 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 firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. Adobe's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.48 earnings per share. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Oppenheimer decreased their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Citigroup reduced their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. DA Davidson reiterated a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, June 20th. Wells Fargo & Company reiterated an "overweight" rating and set a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Finally, Morgan Stanley reduced their price objective on Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Adobe has an average rating of "Moderate Buy" and an average target price of $473.88.

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.

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