Tectonic Advisors LLC Has $2.57 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Tectonic Advisors LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,698 shares of the software company's stock after purchasing an additional 986 shares during the period. Tectonic Advisors LLC's holdings in Adobe were worth $2,569,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH increased its position in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe in the 1st quarter valued at about $26,000. SWAN Capital LLC acquired a new stake in Adobe in the 4th quarter valued at about $28,000. Copia Wealth Management acquired a new stake in Adobe in the 4th quarter valued at about $28,000. Finally, Summit Securities Group LLC acquired a new stake in Adobe in the 4th quarter valued at about $31,000. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADBE has been the subject of several analyst reports. UBS Group lifted their price target on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research report on Monday, June 9th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Jefferies Financial Group lowered their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Bank of America lifted their price target on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Evercore ISI reiterated an "outperform" rating and set a $475.00 price target on shares of Adobe in a research report on Friday, June 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $473.88.

Adobe Stock Down 0.2%

ADBE traded down $0.66 during trading on Friday, reaching $365.79. The company had a trading volume of 2,422,915 shares, compared to its average volume of 3,818,252. 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. The business's fifty day moving average price is $394.55 and its 200 day moving average price is $403.55. The company has a market cap of $155.17 billion, a P/E ratio of 23.40, a PEG ratio of 1.72 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.48 earnings per share. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS 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.