Slow Capital Inc. Buys 111 Shares of Adobe Inc. (NASDAQ:ADBE)

Slow Capital Inc. raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,361 shares of the software company’s stock after purchasing an additional 111 shares during the quarter. Slow Capital Inc.’s holdings in Adobe were worth $2,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ADBE. Brighton Jones LLC increased its position in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock worth $12,882,000 after purchasing an additional 756 shares in the last quarter. GHE LLC boosted its stake in Adobe by 2.9% in the 4th quarter. GHE LLC now owns 23,577 shares of the software company’s stock worth $10,484,000 after purchasing an additional 670 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Adobe by 85.8% during the 4th quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company’s stock valued at $1,043,000 after acquiring an additional 1,083 shares during the period. Finally, Choate Investment Advisors lifted its stake in Adobe by 57.5% during the 4th quarter. Choate Investment Advisors now owns 34,974 shares of the software company’s stock valued at $15,552,000 after acquiring an additional 12,775 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $363.35 on Monday. Adobe Inc. has a twelve month low of $332.01 and a twelve 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. The company has a market capitalization of $154.13 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.72 and a beta of 1.51. The business has a 50 day simple moving average of $396.03 and a 200-day simple moving average of $405.23.

Adobe (NASDAQ:ADBE) last released 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. 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 analyst estimates of $5.80 billion. During the same quarter in the previous year, the firm posted $4.48 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Summit Redstone set a $410.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Jefferies Financial Group lowered their target price on shares of Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. UBS Group lifted their target price on shares of Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. Finally, Bank of America boosted their price target on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average 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.