Trilogy Capital Inc. Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

Trilogy Capital Inc. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 3.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 5,110 shares of the software company’s stock after purchasing an additional 192 shares during the quarter. Trilogy Capital Inc.’s holdings in Adobe were worth $1,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. McCollum Christoferson Group LLC grew its position in Adobe by 12.8% during the 1st quarter. McCollum Christoferson Group LLC now owns 7,614 shares of the software company’s stock worth $2,920,000 after acquiring an additional 865 shares during the last quarter. ANB Bank grew its position in Adobe by 7.9% during the 1st quarter. ANB Bank now owns 2,208 shares of the software company’s stock worth $847,000 after acquiring an additional 162 shares during the last quarter. Elefante Mark B grew its position in Adobe by 4.0% during the 1st quarter. Elefante Mark B now owns 901 shares of the software company’s stock worth $346,000 after acquiring an additional 35 shares during the last quarter. Cetera Investment Advisers grew its position in Adobe by 11.7% during the 1st quarter. Cetera Investment Advisers now owns 102,627 shares of the software company’s stock worth $39,360,000 after acquiring an additional 10,785 shares during the last quarter. Finally, Brookwood Investment Group LLC bought a new position in Adobe during the 1st quarter worth approximately $958,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 0.3%

Shares of NASDAQ:ADBE opened at $370.74 on Friday. The stock has a fifty day simple moving average of $391.01 and a two-hundred day simple moving average of $400.84. The stock has a market capitalization of $157.27 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.76 and a beta of 1.51. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.48 earnings per share. On average, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ADBE shares. Redburn Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and cut their price objective for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $450.00 price objective on shares of Adobe in a research report on Friday, June 13th. Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Robert W. Baird lifted their price objective on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $473.88.

Adobe 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.