Adobe Inc. (NASDAQ:ADBE) Shares Acquired by First National Advisers LLC

First National Advisers LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,445 shares of the software company’s stock after purchasing an additional 103 shares during the quarter. First National Advisers LLC’s holdings in Adobe were worth $4,390,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH boosted its holdings in Adobe by 252.9% in the fourth 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 during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $26,000. SWAN Capital LLC purchased a new stake in shares of Adobe in the fourth quarter worth about $28,000. Copia Wealth Management purchased a new stake in shares of Adobe in the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC acquired a new stake in Adobe during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADBE shares. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets reiterated an “outperform” rating and set a $450.00 price target on shares of Adobe in a research report on Friday, June 13th. Wells Fargo & Company reissued an “overweight” rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Oppenheimer reduced their target price on Adobe from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, June 13th. Finally, Citigroup decreased their target price on Adobe from $465.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, June 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $473.88.

Adobe Stock Down 0.3%

ADBE opened at $370.74 on Friday. The stock has a market capitalization of $157.27 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.76 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average of $391.01 and a two-hundred day moving average of $400.71. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

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