Marietta Wealth Management LLC Acquires 5,722 Shares of Adobe Inc. (NASDAQ:ADBE)

Marietta Wealth Management LLC lifted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 36.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,326 shares of the software company's stock after purchasing an additional 5,722 shares during the quarter. Adobe comprises 1.2% of Marietta Wealth Management LLC's holdings, making the stock its 29th largest position. Marietta Wealth Management LLC's holdings in Adobe were worth $8,179,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ADBE. Sepio Capital LP increased its holdings in shares of Adobe by 2.3% during the fourth quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after purchasing an additional 22 shares during the period. Cadence Bank lifted its position in Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares during the period. Eagle Strategies LLC boosted its stake in Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after buying an additional 22 shares in the last quarter. RB Capital Management LLC grew its holdings in Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after acquiring an additional 22 shares during the period. Finally, Orin Green Financial LLC raised its position in Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of ADBE stock traded up $2.22 during trading hours on Tuesday, hitting $382.34. The company had a trading volume of 4,794,607 shares, compared to its average volume of 3,400,187. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. The firm's fifty day moving average is $390.26 and its 200 day moving average is $414.29. The firm has a market capitalization of $162.95 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.79 and a beta of 1.55.

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 the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Evercore ISI reiterated an "outperform" rating and set a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Robert W. Baird boosted their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. DA Davidson reaffirmed a "buy" rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $480.00 price target on shares of Adobe in a report on Thursday, June 5th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $496.75.

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.