Hussman Strategic Advisors Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,100 shares of the software company's stock, valued at approximately $805,000.
Other institutional investors also recently modified their holdings of the company. Siemens Fonds Invest GmbH raised its position in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe during the first quarter worth $26,000. SWAN Capital LLC bought a new stake in shares of Adobe during the fourth quarter worth $28,000. Copia Wealth Management bought a new stake in shares of Adobe during the fourth quarter worth $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Adobe during the fourth quarter worth $31,000. Institutional investors and hedge funds own 81.79% of the company's stock.
Adobe Trading Down 0.2%
ADBE traded down $0.66 during trading on Friday, hitting $365.79. 2,445,698 shares of the company's stock were exchanged, compared to its average volume of 3,477,489. The stock has a 50 day moving average price of $394.20 and a 200 day moving average price of $402.72. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market cap of $155.17 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.51.
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, topping the consensus estimate of $4.97 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.48 earnings per share. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on ADBE shares. Mizuho decreased their target price on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Jefferies Financial Group lowered their target price on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Oppenheimer reduced their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Evercore ISI reiterated an "outperform" rating and issued a $475.00 price target on shares of Adobe in a research note on Friday, June 13th. Finally, Bank of America lifted their price objective on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $473.88.
View Our Latest Stock Report on Adobe
Adobe Profile
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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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