Keeler Thomas Management LLC Has $804,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Keeler Thomas Management LLC has reduced its stake in Adobe Inc. by 70%, owning 2,096 shares valued at approximately $804,000 after selling 4,886 shares in the first quarter.
• Adobe recently reported an earnings per share (EPS) of $5.06 for the quarter, exceeding analysts' expectations of $4.97, with a year-over-year revenue increase of 10.6%.
• Several analysts have recently adjusted their ratings on Adobe, with Bank of America raising its price target from $424 to $475 and the consensus target price now sitting at $473.88.

Keeler Thomas Management LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 70.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,096 shares of the software company's stock after selling 4,886 shares during the period. Keeler Thomas Management LLC's holdings in Adobe were worth $804,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. acquired a new position in Adobe during the first quarter valued at approximately $34,000. PFG Advisors raised its holdings in Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock valued at $1,904,000 after acquiring an additional 855 shares in the last quarter. Krane Funds Advisors LLC boosted its stake in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after buying an additional 730 shares in the last quarter. Burling Wealth Partners LLC acquired a new stake in shares of Adobe during the 4th quarter valued at about $1,173,000. Finally, Financial Counselors Inc. grew its stake in shares of Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock valued at $24,105,000 after purchasing an additional 5,298 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Performance

Shares of ADBE stock traded up $2.78 on Friday, reaching $341.05. The stock had a trading volume of 3,506,570 shares, compared to its average volume of 3,402,612. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The firm has a market capitalization of $144.67 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.60 and a beta of 1.51. The firm's 50-day moving average is $380.02 and its two-hundred day moving average is $396.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $5.80 billion. During the same period in the previous year, the company posted $4.48 earnings per share. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler lowered their target price on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird increased their target price on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Finally, Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $473.88.

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.