Linden Thomas Advisory Services LLC Has $4.37 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Linden Thomas Advisory Services LLC raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,391 shares of the software company's stock after purchasing an additional 719 shares during the quarter. Adobe accounts for about 0.6% of Linden Thomas Advisory Services LLC's portfolio, making the stock its 25th biggest position. Linden Thomas Advisory Services LLC's holdings in Adobe were worth $4,369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Copia Wealth Management purchased a new position in shares of Adobe during the 4th quarter worth approximately $28,000. SWAN Capital LLC acquired a new position in shares of Adobe in the fourth quarter worth about $28,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the 1st quarter worth approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Adobe in the 4th quarter valued at $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Adobe during the fourth quarter worth about $36,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Citigroup lowered their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Mizuho dropped their price target on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Robert W. Baird increased their target price on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Finally, UBS Group lifted their target price on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research note on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $480.08.

Adobe Stock Up 1.4%

Shares of NASDAQ ADBE opened at $382.24 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $162.15 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.79 and a beta of 1.51. The company has a 50 day simple moving average of $396.48 and a 200-day simple moving average of $407.17. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75.

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

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