Texas Capital Bank Wealth Management Services Inc raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 213.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,695 shares of the software company's stock after acquiring an additional 1,835 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Adobe were worth $1,034,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Siemens Fonds Invest GmbH increased 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 period. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe during the 1st quarter worth approximately $26,000. SWAN Capital LLC acquired a new stake in shares of Adobe during the 4th quarter worth approximately $28,000. Copia Wealth Management acquired a new stake in shares of Adobe during the 4th quarter worth approximately $28,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Adobe during the 1st quarter worth approximately $30,000. 81.79% of the stock is owned by institutional investors.
Analyst Ratings Changes
ADBE has been the topic of several analyst reports. UBS Group increased 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. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. BMO Capital Markets reiterated an "outperform" rating and set a $450.00 price target on shares of Adobe in a research report on Friday, June 13th. Oppenheimer cut their target price on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Three 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $467.58.
Check Out Our Latest Stock Analysis on Adobe
Adobe Price Performance
Shares of NASDAQ ADBE opened at $357.24 on Tuesday. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $587.75. The firm has a fifty day simple moving average of $370.66 and a 200 day simple moving average of $391.57. The company has a market capitalization of $151.54 billion, a PE ratio of 22.86, a P/E/G ratio of 1.68 and a beta of 1.51. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the firm earned $4.48 earnings per share. Adobe's quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.
About Adobe
(
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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