Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lifted by Greenleaf Trust

Greenleaf Trust raised its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 10.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,912 shares of the software company's stock after buying an additional 4,456 shares during the quarter. Greenleaf Trust's holdings in Adobe were worth $18,376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its holdings 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 acquiring an additional 167 shares during the period. Bank Pictet & Cie Europe AG increased its position in Adobe by 2.7% in 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 acquiring an additional 756 shares during the period. GHE LLC increased 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 acquiring an additional 670 shares during the period. Proficio Capital Partners LLC increased 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 acquiring an additional 1,083 shares during the period. Finally, Independent Advisor Alliance increased its position in Adobe by 42.6% in the 4th quarter. Independent Advisor Alliance now owns 26,661 shares of the software company's stock valued at $11,855,000 after acquiring an additional 7,963 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ADBE. DA Davidson restated a "buy" rating and issued a $500.00 target price on shares of Adobe in a research report on Friday, June 20th. BMO Capital Markets reissued an "outperform" rating and set a $450.00 target price on shares of Adobe in a research note on Friday, June 13th. Rothschild & Co Redburn cut shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a research note on Wednesday, July 2nd. Citigroup lowered their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Finally, Evercore ISI reiterated an "outperform" rating and set a $475.00 price target on shares of Adobe in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $480.08.

Adobe Stock Down 0.5%

Shares of ADBE stock traded down $1.95 on Thursday, reaching $371.43. 4,019,776 shares of the company's stock traded hands, compared to its average volume of 3,452,958. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $157.56 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 1.77 and a beta of 1.51. The business's 50 day moving average price is $396.38 and its two-hundred day moving average price is $406.42.

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