Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lifted by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management LLC increased its stake in Adobe Inc. by 18.1%, acquiring an additional 3,930 shares, bringing its total holdings to 25,600 shares worth approximately $9.82 million.
• Despite mixed analyst ratings, with some downgrading Adobe to a "strong sell," the stock has a consensus rating of "Moderate Buy" and a target price of $473.88.
• Adobe reported better-than-expected earnings, with a net revenue of $5.87 billion for the quarter and projected earnings per share of 16.65 for the current fiscal year.

Motley Fool Asset Management LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,600 shares of the software company's stock after purchasing an additional 3,930 shares during the period. Motley Fool Asset Management LLC's holdings in Adobe were worth $9,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its position 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 purchasing an additional 167 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position 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 purchasing an additional 756 shares in the last quarter. Crux Wealth Advisors acquired a new position in shares of Adobe during the fourth quarter worth $363,000. Sagespring Wealth Partners LLC purchased a new position in shares of Adobe during the 4th quarter valued at approximately $1,328,000. Finally, Alapocas Investment Partners Inc. boosted its stake in shares of Adobe by 1.3% during the 4th quarter. Alapocas Investment Partners Inc. now owns 26,457 shares of the software company's stock valued at $11,765,000 after buying an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on ADBE. Redburn Atlantic cut Adobe from a "hold" rating to a "strong sell" rating and reduced their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Mizuho decreased their target price on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Piper Sandler decreased their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group lifted their target price on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research report on Monday, June 9th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $467.58.

Adobe Trading Up 3.7%

ADBE stock traded up $12.64 during mid-day trading on Wednesday, reaching $351.07. 4,371,225 shares of the stock traded hands, compared to its average volume of 3,801,436. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $587.75. The company has a market cap of $148.92 billion, a P/E ratio of 22.46, a P/E/G ratio of 1.58 and a beta of 1.51. The stock's fifty day moving average is $375.67 and its 200-day moving average is $394.37.

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 during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the firm earned $4.48 earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share 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.