Liberty Wealth Management LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 28,143.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 400,770 shares of the software company's stock after buying an additional 399,351 shares during the quarter. Liberty Wealth Management LLC owned approximately 0.09% of Adobe worth $141,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sepio Capital LP boosted its stake in shares of Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after buying an additional 22 shares during the last quarter. Cadence Bank grew its holdings in Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after buying an additional 22 shares in the last quarter. Eagle Strategies LLC grew its stake in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after buying an additional 22 shares in the last quarter. RB Capital Management LLC increased its position in shares of Adobe by 0.4% during the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after purchasing an additional 22 shares during the last quarter. Finally, Orin Green Financial LLC lifted its holdings in shares of Adobe by 3.8% in the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after acquiring an additional 23 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on ADBE shares. Citigroup decreased their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Wells Fargo & Company reiterated an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Bank of America increased their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $473.88.
Check Out Our Latest Analysis on Adobe
Adobe Stock Performance
Adobe stock traded up $1.35 during trading hours on Friday, reaching $339.62. 2,089,336 shares of the stock were exchanged, compared to its average volume of 3,784,786. The stock has a market cap of $144.07 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.64 and a beta of 1.51. The firm's 50 day moving average is $380.02 and its 200 day moving average is $396.70. 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 52-week low of $332.01 and a 52-week 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 firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.48 earnings per share. Analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.
About Adobe
(
Free Report)
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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