Vanguard Group Inc. Has $15.78 Billion Holdings in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Vanguard Group Inc. increased its holdings in Adobe Inc. by 0.4% during the first quarter, now owning approximately 41.1 million shares worth about $15.78 billion.
• Several institutional investors significantly boosted their positions in Adobe, with GAMMA Investing LLC increasing its stake by 46,806.6%, now holding nearly 3 million shares.
• Brokerages have mixed ratings on Adobe, with the average investor recommendation being a Moderate Buy and an average target price of $473.88.

Vanguard Group Inc. lifted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,143,835 shares of the software company's stock after purchasing an additional 171,547 shares during the period. Vanguard Group Inc. owned 9.65% of Adobe worth $15,779,895,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADBE. GAMMA Investing LLC boosted its position in shares of Adobe by 46,806.6% in the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after purchasing an additional 2,984,391 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after buying an additional 1,216,351 shares during the period. Two Sigma Advisers LP raised its stake 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 buying an additional 830,300 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Adobe during the 4th quarter worth $365,750,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 2.1%

Shares of NASDAQ ADBE traded down $7.35 during mid-day trading on Thursday, hitting $338.27. The company had a trading volume of 4,658,591 shares, compared to its average volume of 3,370,717. The company has a market capitalization of $143.49 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.64 and a beta of 1.51. The firm has a 50-day simple moving average of $380.02 and a two-hundred day simple moving average of $396.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. Adobe's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $4.48 EPS. On average, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler dropped 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. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $480.00 price objective on shares of Adobe in a research note on Thursday, June 5th. UBS Group raised 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. Mizuho dropped their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.