Unique Wealth LLC Has $1.91 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Unique Wealth LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 27.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,971 shares of the software company's stock after purchasing an additional 1,058 shares during the period. Unique Wealth LLC's holdings in Adobe were worth $1,907,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after acquiring an additional 167 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Adobe during the 4th quarter worth about $76,712,000. Country Club Bank boosted its stake in shares of Adobe by 5.5% during the 4th quarter. Country Club Bank now owns 3,298 shares of the software company's stock worth $1,470,000 after acquiring an additional 171 shares in the last quarter. Lion Street Advisors LLC boosted its stake in shares of Adobe by 20.4% during the 4th quarter. Lion Street Advisors LLC now owns 520 shares of the software company's stock worth $231,000 after acquiring an additional 88 shares in the last quarter. Finally, Absher Wealth Management LLC boosted its stake in shares of Adobe by 74.3% during the 4th quarter. Absher Wealth Management LLC now owns 4,393 shares of the software company's stock worth $1,953,000 after acquiring an additional 1,872 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company's stock.

Adobe Trading Up 0.3%

Shares of ADBE opened at $415.20 on Friday. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $380.73 and a 200-day simple moving average of $425.81. The stock has a market cap of $176.96 billion, a PE ratio of 33.48, a PEG ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly 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. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same period last year, the firm posted $4.48 EPS. On average, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADBE. Stifel Nicolaus decreased their target price on Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. BMO Capital Markets decreased their target price on Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Piper Sandler decreased their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Summit Redstone set a $410.00 target price on Adobe in a research note on Wednesday, March 19th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $502.88.

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.

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