PFG Advisors Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

PFG Advisors boosted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,964 shares of the software company's stock after buying an additional 855 shares during the quarter. PFG Advisors' holdings in Adobe were worth $1,904,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH grew its holdings in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe during the first quarter worth $26,000. SWAN Capital LLC acquired a new position in shares of Adobe during the fourth quarter worth approximately $28,000. Copia Wealth Management acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC bought a new position in Adobe in the 4th quarter worth approximately $31,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADBE. UBS Group lifted their price objective on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research report on Monday, June 9th. Stifel Nicolaus dropped their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. BMO Capital Markets reissued an "outperform" rating and set a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 price target on shares of Adobe in a research note on Thursday, June 5th. Finally, Jefferies Financial Group dropped their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $473.88.

Adobe Stock Performance

Shares of NASDAQ ADBE traded down $0.95 during midday trading on Friday, hitting $370.74. 2,052,034 shares of the company's stock traded hands, compared to its average volume of 3,772,122. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $157.27 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.51. The firm has a fifty day moving average of $391.94 and a 200 day moving average of $401.19. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating 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%. Adobe's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.48 EPS. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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.