Adobe Inc. (NASDAQ:ADBE) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,590 shares of the software company’s stock after buying an additional 379 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Adobe were worth $3,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sepio Capital LP lifted its holdings in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock valued at $442,000 after purchasing an additional 22 shares in the last quarter. Cadence Bank lifted its holdings in Adobe by 0.5% in the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock valued at $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC lifted its holdings in Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock valued at $651,000 after purchasing an additional 22 shares in the last quarter. RB Capital Management LLC lifted 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 valued at $2,198,000 after purchasing an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC lifted its holdings in Adobe by 3.8% in 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. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 0.2%

Shares of NASDAQ:ADBE opened at $385.83 on Friday. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a 50 day moving average of $393.23 and a two-hundred day moving average of $411.65. The company has a market capitalization of $163.67 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 1.82 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the company earned $4.48 earnings per share. Adobe’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ADBE. Oppenheimer reduced their target price on shares of Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, June 13th. Summit Redstone set a $410.00 price objective on shares of Adobe in a report on Wednesday, March 19th. Robert W. Baird increased their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. JPMorgan Chase & Co. cut their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Monday, June 23rd. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $496.75.

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.