WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST boosted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 728,038 shares of the software company's stock after purchasing an additional 8,038 shares during the quarter. Adobe comprises about 3.5% of WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST's portfolio, making the stock its 16th biggest position. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST owned 0.17% of Adobe worth $279,224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ADBE. Garde Capital Inc. purchased a new position in shares of Adobe in the 1st quarter valued at $34,000. Arizona State Retirement System boosted its holdings in shares of Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock valued at $56,784,000 after buying an additional 570 shares in the last quarter. Burling Wealth Partners LLC purchased a new position in shares of Adobe in the 4th quarter worth approximately $1,173,000. Sound Income Strategies LLC grew its position in shares of Adobe by 17.6% in the 1st quarter. Sound Income Strategies LLC now owns 308 shares of the software company's stock worth $118,000 after buying an additional 46 shares during the last quarter. Finally, Horan Capital Advisors LLC. raised its stake in shares of Adobe by 2.4% during the 4th quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company's stock worth $2,162,000 after acquiring an additional 114 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ADBE. Stifel Nicolaus cut their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. BMO Capital Markets reiterated an "outperform" rating and issued a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. Finally, Piper Sandler dropped their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $496.75.

Adobe Stock Down 0.7%

ADBE stock opened at $384.95 on Friday. The company has a market capitalization of $164.07 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 1.84 and a beta of 1.55. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The firm's fifty day simple moving average is $392.49 and its 200-day simple moving average is $412.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. The company 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 was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.48 earnings per share. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.

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