Simon Quick Advisors LLC Purchases 8,166 Shares of Adobe Inc. (NASDAQ:ADBE)

Simon Quick Advisors LLC raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 75.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,966 shares of the software company's stock after acquiring an additional 8,166 shares during the quarter. Simon Quick Advisors LLC's holdings in Adobe were worth $7,274,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted its position in Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock valued at $56,784,000 after buying an additional 570 shares in the last quarter. Burling Wealth Partners LLC acquired a new stake in Adobe in the fourth quarter valued at approximately $1,173,000. Horan Capital Advisors LLC. lifted its holdings in shares of Adobe by 2.4% during the fourth quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company's stock worth $2,162,000 after purchasing an additional 114 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Adobe by 85.8% during the fourth quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock worth $1,043,000 after purchasing an additional 1,083 shares during the period. Finally, LFA Lugano Financial Advisors SA bought a new position in Adobe during the fourth quarter worth $38,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Adobe in a research note on Wednesday, February 19th. They set a "neutral" rating for the company. Mizuho decreased their price target on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. BMO Capital Markets decreased their price target on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their price target on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup lifted their price objective on shares of Adobe from $430.00 to $465.00 and gave the company a "neutral" rating in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe currently has a consensus rating of "Moderate Buy" and a consensus target price of $503.33.

Adobe Trading Up 0.2%

Adobe stock traded up $0.84 during trading hours on Thursday, reaching $413.68. The stock had a trading volume of 6,169,376 shares, compared to its average volume of 3,418,958. The stock has a market cap of $176.31 billion, a PE ratio of 33.36, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day simple moving average of $384.27 and a 200-day simple moving average of $423.37.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the previous year, the firm posted $4.48 EPS. Analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

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.