Barden Capital Management Inc. Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Barden Capital Management Inc. raised its position in Adobe Inc. (NASDAQ:ADBE) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,147 shares of the software company’s stock after acquiring an additional 178 shares during the quarter. Adobe makes up 2.1% of Barden Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Barden Capital Management Inc.’s holdings in Adobe were worth $2,358,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ADBE. Siemens Fonds Invest GmbH boosted its stake in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new stake in shares of Adobe during the 4th quarter valued at about $28,000. Copia Wealth Management bought a new stake in shares of Adobe during the 4th quarter valued at about $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the 4th quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Adobe during the 4th quarter valued at about $36,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.4%

Shares of NASDAQ ADBE opened at $416.92 on Friday. The firm’s 50 day moving average price is $381.41 and its 200-day moving average price is $424.72. The company has a market cap of $177.69 billion, a PE ratio of 33.62, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the firm posted $4.48 earnings per share. On average, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In related news, CFO Daniel Durn acquired 1,300 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research reports. Bank of America cut their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. UBS Group cut their target price on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Mizuho cut their target price on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Redburn Atlantic assumed coverage on shares of Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $502.88.

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.