Motco Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Motco increased its stake in Adobe Inc. by 9.2% during the first quarter, acquiring an additional 1,801 shares, making its total holdings worth $8.21 million.
• Adobe recently reported quarterly earnings of $5.06 EPS, surpassing estimates of $4.97, with revenue increasing by 10.6% year-over-year.
• Institutional investors currently own 81.79% of Adobe's stock, highlighting significant interest from major financial entities.

Motco lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,410 shares of the software company's stock after acquiring an additional 1,801 shares during the quarter. Motco's holdings in Adobe were worth $8,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of Adobe by 46,806.6% during the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock valued at $1,147,049,000 after purchasing an additional 2,984,391 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Adobe by 1,482.7% in 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after purchasing an additional 952,233 shares during the last quarter. Two Sigma Advisers LP boosted its position in Adobe by 1,414.5% during the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after purchasing an additional 830,300 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Adobe in the fourth quarter valued at about $365,750,000. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $370.74 on Friday. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a fifty day simple moving average of $391.01 and a two-hundred day simple moving average of $400.84. 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 company has a market cap of $157.27 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.76 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.48 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ADBE. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and decreased their price target for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Royal Bank Of Canada restated an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. DA Davidson reaffirmed a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Evercore ISI reissued an "outperform" rating and issued a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Finally, JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $473.88.

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.

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