Twin Capital Management Inc. Acquires 1,494 Shares of Adobe Inc. (NASDAQ:ADBE)

Twin Capital Management Inc. increased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,300 shares of the software company's stock after buying an additional 1,494 shares during the quarter. Twin Capital Management Inc.'s holdings in Adobe were worth $4,334,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Siemens Fonds Invest GmbH lifted its position in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after buying an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe during the 1st quarter valued at approximately $26,000. SWAN Capital LLC purchased a new stake in Adobe during the 4th quarter valued at approximately $28,000. Copia Wealth Management purchased a new stake in Adobe during the 4th quarter valued at approximately $28,000. Finally, Summit Securities Group LLC purchased a new stake in Adobe during the 4th quarter valued at approximately $31,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.2%

Shares of NASDAQ ADBE opened at $365.79 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $155.17 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.51. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The business has a fifty day moving average price of $394.20 and a 200 day moving average price of $402.72.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same period in the prior year, the business posted $4.48 EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADBE shares. Wall Street Zen lowered shares of Adobe from a "buy" rating to a "hold" rating in a report on Friday. UBS Group lifted their price objective on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research note on Monday, June 9th. Piper Sandler reduced their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price objective on Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $450.00 price objective on shares of Adobe in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Adobe has an average rating of "Moderate Buy" and a consensus target price of $473.88.

Adobe Company 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.

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