Stratos Investment Management LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 40.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 19,612 shares of the software company's stock after purchasing an additional 5,661 shares during the quarter. Stratos Investment Management LLC's holdings in Adobe were worth $7,522,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of ADBE. Norges Bank acquired a new position in Adobe during the 4th quarter worth approximately $2,553,035,000. GAMMA Investing LLC lifted its position in Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after acquiring an additional 2,984,391 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in 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 acquiring an additional 952,233 shares in the last quarter. Two Sigma Advisers LP lifted its position in Adobe by 1,414.5% during the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock worth $395,321,000 after acquiring an additional 830,300 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Adobe during the 4th quarter worth approximately $365,750,000. Hedge funds and other institutional investors own 81.79% of the company's stock.
Adobe Price Performance
Shares of ADBE opened at $376.93 on Tuesday. The company has a market cap of $159.89 billion, a P/E ratio of 24.12, a PEG ratio of 1.80 and a beta of 1.51. The stock has a fifty day moving average price of $396.25 and a 200 day moving average price of $407.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.
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 the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter in the prior year, the business posted $4.48 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.
Analysts Set New Price Targets
ADBE has been the topic of several recent research reports. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and cut their target price for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. UBS Group upped their target price on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Stifel Nicolaus cut their target price on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. Finally, Summit Redstone set a $410.00 target price on Adobe in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Adobe has a consensus rating of "Moderate Buy" and an average price target of $480.08.
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Adobe Profile
(
Free Report)
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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