Adobe Inc. (NASDAQ:ADBE) Stock Holdings Boosted by Mesirow Financial Investment Management Inc.

Key Points

• Mesirow Financial Investment Management Inc. increased its stake in Adobe Inc. by 2.5% in Q1, owning 29,584 shares valued at approximately $11.35 million.
• Adobe reported $5.06 earnings per share for the last quarter, exceeding estimates and achieving a 10.6% year-over-year revenue growth.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Adobe, with a price target averaging $473.88.

Mesirow Financial Investment Management Inc. grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,584 shares of the software company's stock after acquiring an additional 732 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Adobe were worth $11,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after buying an additional 167 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after buying an additional 756 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Adobe during the fourth quarter worth about $1,158,000. FSB Premier Wealth Management Inc. grew its holdings in shares of Adobe by 14.8% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 697 shares of the software company's stock worth $310,000 after buying an additional 90 shares in the last quarter. Finally, AIA Group Ltd purchased a new stake in shares of Adobe during the fourth quarter worth about $923,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent analyst reports. Rothschild & Co Redburn downgraded shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a report on Wednesday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $480.00 price objective on shares of Adobe in a research note on Thursday, June 5th. BMO Capital Markets reiterated an "outperform" rating and set a $450.00 price objective on shares of Adobe in a research note 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 for the company in a research note on Wednesday, April 16th. Finally, Mizuho decreased their price objective on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $473.88.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded down $9.89 on Friday, reaching $347.80. 4,305,938 shares of the company's stock were exchanged, compared to its average volume of 3,775,404. The firm has a market capitalization of $147.54 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 1.73 and a beta of 1.51. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The business's 50-day moving average is $386.92 and its two-hundred day moving average is $399.51. 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 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. The company had revenue of $5.87 billion for 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 firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.48 earnings per share. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

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.