Gibraltar Capital Management Inc. Purchases Shares of 13,695 Adobe Inc. (NASDAQ:ADBE)

Gibraltar Capital Management Inc. acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,695 shares of the software company's stock, valued at approximately $5,252,000.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Adobe by 2.1% during the 4th 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 holdings 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 boosted its position in Adobe by 2.9% in the 4th quarter. GHE LLC now owns 23,577 shares of the software company's stock valued at $10,484,000 after buying an additional 670 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Adobe by 85.8% in the 4th quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock valued at $1,043,000 after buying an additional 1,083 shares during the last quarter. Finally, Lifeworks Advisors LLC boosted its position in Adobe by 14.3% in the 4th quarter. Lifeworks Advisors LLC now owns 759 shares of the software company's stock valued at $338,000 after buying an additional 95 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Evercore ISI reiterated an "outperform" rating and issued a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Summit Redstone set a $410.00 price objective on Adobe in a research report on Wednesday, March 19th. Mizuho decreased their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Finally, Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective on the stock. in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $480.08.

Adobe Trading Up 1.4%

Adobe stock traded up $5.31 during mid-day trading on Tuesday, hitting $382.24. 3,707,186 shares of the company's stock were exchanged, compared to its average volume of 3,436,092. The firm has a market capitalization of $162.15 billion, a P/E ratio of 24.46, a PEG ratio of 1.79 and a beta of 1.51. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. 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 company's 50 day simple moving average is $396.25 and its 200-day simple moving average is $407.34.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.48 EPS. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.