807 Shares in Adobe Inc. $ADBE Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new position in Adobe Inc. (NASDAQ:ADBE) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 807 shares of the software company’s stock, valued at approximately $310,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. RB Capital Management LLC grew its holdings in Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock worth $2,198,000 after buying an additional 22 shares in the last quarter. Orin Green Financial LLC boosted its stake in Adobe by 3.8% during the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock valued at $276,000 after purchasing an additional 23 shares in the last quarter. Second Line Capital LLC boosted its stake in Adobe by 3.5% during the 4th quarter. Second Line Capital LLC now owns 768 shares of the software company’s stock valued at $342,000 after purchasing an additional 26 shares in the last quarter. Vista Investment Management boosted its stake in Adobe by 3.1% during the 4th quarter. Vista Investment Management now owns 875 shares of the software company’s stock valued at $389,000 after purchasing an additional 26 shares in the last quarter. Finally, GS Investments Inc. boosted its stake in Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after purchasing an additional 26 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ADBE shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Monday, June 23rd. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. DA Davidson reaffirmed a “buy” rating and set a $500.00 price target on shares of Adobe in a research note on Friday, June 20th. Finally, Citigroup decreased their price target on Adobe from $465.00 to $450.00 and set a “neutral” rating for the company in a research note on Monday, June 16th. Two 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $446.74.

Adobe Stock Performance

ADBE opened at $350.16 on Thursday. The firm has a market cap of $148.54 billion, a PE ratio of 22.40, a P/E/G ratio of 1.68 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $358.50 and a 200-day simple moving average of $381.10. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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 business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The company’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $4.48 EPS. As a group, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.