Adobe Inc. $ADBE Shares Bought by McAdam LLC

McAdam LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 618 shares of the software company’s stock after acquiring an additional 52 shares during the quarter. McAdam LLC’s holdings in Adobe were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH lifted its position in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares during the period. 1248 Management LLC acquired a new stake in Adobe during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the 1st quarter valued at approximately $26,000. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $28,000. Finally, Copia Wealth Management acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $28,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE stock opened at $350.55 on Friday. The stock has a fifty day moving average price of $357.92 and a 200 day moving average price of $380.45. The stock has a market cap of $148.70 billion, a PE ratio of 22.43, a P/E/G ratio of 1.66 and a beta of 1.48. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99.

Adobe (NASDAQ:ADBE – Get Free Report) last released its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.Adobe’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.48 earnings per share. Sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ADBE. Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and reduced their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Wells Fargo & Company reissued an “overweight” rating and issued a $470.00 price target (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Bank of America raised their price target on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a report on Friday, June 13th. DA Davidson reissued a “buy” rating and issued a $500.00 price target on shares of Adobe in a report on Friday, June 20th. Finally, UBS Group reduced their price target on Adobe from $430.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $444.89.

Check Out Our Latest Research Report on Adobe

Adobe Company 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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