Signaturefd LLC Has $4.06 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Signaturefd LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 10,577 shares of the software company's stock after acquiring an additional 819 shares during the period. Signaturefd LLC's holdings in Adobe were worth $4,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH increased its holdings in Adobe by 252.9% during the 4th 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 purchased a new stake in Adobe during the 1st quarter worth approximately $26,000. SWAN Capital LLC purchased a new stake in Adobe during the 4th quarter worth approximately $28,000. Copia Wealth Management purchased a new stake in Adobe during the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Adobe in the 4th quarter valued at approximately $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a report on Wednesday, July 2nd. Citigroup lowered their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Summit Redstone set a $410.00 price target on Adobe in a report on Wednesday, March 19th. Oppenheimer lowered their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $450.00 price target on shares of Adobe in a report on Friday, June 13th. Two 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $473.88.

Adobe Trading Up 1.1%

Shares of Adobe stock traded up $3.87 on Thursday, reaching $365.64. 1,591,855 shares of the company were exchanged, compared to its average volume of 3,461,749. The stock has a fifty day moving average price of $394.90 and a 200-day moving average price of $404.10. The firm has a market capitalization of $155.11 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.51. 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 fifty-two week low of $332.01 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its 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 company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. Adobe's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.48 earnings per share. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.