PDS Planning Inc Boosts Stake in Adobe Inc. (NASDAQ:ADBE)

by · The Cerbat Gem

PDS Planning Inc lifted its holdings in Adobe Inc. (NASDAQ:ADBE – Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,780 shares of the software company’s stock after purchasing an additional 167 shares during the period. PDS Planning Inc’s holdings in Adobe were worth $1,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Copia Wealth Management acquired a new position in shares of Adobe during the 4th quarter worth approximately $28,000. SWAN Capital LLC acquired a new position in Adobe during the fourth quarter worth $28,000. Summit Securities Group LLC purchased a new position in Adobe during the fourth quarter valued at $31,000. Bernard Wealth Management Corp. acquired a new stake in shares of Adobe in the fourth quarter valued at about $36,000. Finally, Mascoma Wealth Management LLC grew its position in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADBE shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $470.00 price target (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Jefferies Financial Group lowered their price target on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Morgan Stanley decreased their price objective on Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Robert W. Baird upped their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $496.75.

View Our Latest Stock Report on ADBE

Adobe Price Performance

Shares of ADBE opened at $387.55 on Thursday. The firm has a 50-day simple moving average of $391.76 and a two-hundred day simple moving average of $413.89. 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 Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The stock has a market cap of $165.17 billion, a PE ratio of 24.80, a P/E/G ratio of 1.81 and a beta of 1.55.

Adobe (NASDAQ:ADBE – Get Free Report) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the company earned $4.48 EPS. Adobe’s revenue was up 10.6% on a year-over-year basis. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Profile

(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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