Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lifted by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC raised its stock position in Adobe Inc. by 767.7% in Q1, acquiring over 26,000 additional shares and making Adobe its 10th largest holding, worth approximately $11.4 million.
• Several analysts have recently updated their ratings on Adobe, with price targets ranging from $450 to $500 and a consensus rating of "Moderate Buy" based on strong quarterly earnings that exceeded expectations.
• Adobe's stock has shown a year-to-date performance with a 2.0% increase recently, alongside strong fundamentals reflected in a return on equity of 53.68% and a revenue growth of 10.6% year-over-year.

Headlands Technologies LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 767.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,806 shares of the software company's stock after acquiring an additional 26,371 shares during the quarter. Adobe comprises approximately 1.3% of Headlands Technologies LLC's holdings, making the stock its 10th biggest holding. Headlands Technologies LLC's holdings in Adobe were worth $11,431,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cadence Bank grew its holdings in Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after buying an additional 22 shares in the last quarter. Eagle Strategies LLC boosted its holdings in Adobe by 1.5% during the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after acquiring an additional 22 shares during the last quarter. RB Capital Management LLC grew its stake in shares of Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after acquiring an additional 22 shares in the last quarter. Orin Green Financial LLC raised its holdings in shares of Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after purchasing an additional 23 shares during the last quarter. Finally, Diligent Investors LLC raised its holdings in shares of Adobe by 1.2% in the fourth quarter. Diligent Investors LLC now owns 2,160 shares of the software company's stock valued at $961,000 after purchasing an additional 26 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 price target on shares of Adobe in a report on Friday, June 13th. DA Davidson reiterated a "buy" rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday, June 20th. Citigroup decreased their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Finally, Oppenheimer lowered their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $473.88.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $2.78 during trading on Friday, hitting $341.05. The company had a trading volume of 3,506,570 shares, compared to its average volume of 3,402,612. The stock has a 50 day simple moving average of $378.55 and a 200 day simple moving average of $396.05. The firm has a market capitalization of $144.67 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.60 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current 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 announced its quarterly earnings data 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 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 business's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $4.48 earnings per share. As a group, analysts anticipate 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.