Lindenwold Advisors INC Acquires 896 Shares of Adobe Inc. (NASDAQ:ADBE)

Key Points

• Lindenwold Advisors INC increased its stake in Adobe by 29.2%, purchasing an additional 896 shares, which brought its total holdings to 3,963 shares worth approximately $1.52 million.
• Multiple institutional investors, including PFG Advisors and Krane Funds Advisors LLC, have also raised their positions in Adobe during the first quarter, reflecting sustained interest in the stock.
• Analysts have shown a positive outlook for Adobe, with 16 buy ratings and a target price averaging $473.88, suggesting confidence in the company's growth potential.

Lindenwold Advisors INC increased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 29.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,963 shares of the software company's stock after purchasing an additional 896 shares during the quarter. Lindenwold Advisors INC's holdings in Adobe were worth $1,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. GAMMA Investing LLC boosted its stake in shares of Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after acquiring an additional 2,984,391 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after acquiring an additional 1,216,351 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Adobe by 1,414.5% during the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock worth $395,321,000 after acquiring an additional 830,300 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Adobe during the 4th quarter worth $365,750,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after acquiring an additional 821,293 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

NASDAQ ADBE traded down $9.89 on Friday, reaching $347.80. The company had a trading volume of 4,305,938 shares, compared to its average volume of 3,069,042. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $147.54 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 1.70 and a beta of 1.52. The firm's 50 day moving average price is $385.72 and its 200 day moving average price is $399.07. 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 posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping 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 firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the firm posted $4.48 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ADBE shares. Stifel Nicolaus dropped their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Piper Sandler decreased their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Bank of America raised their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Morgan Stanley decreased their price objective on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup decreased their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and an average price target of $473.88.

About Adobe

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.