Adobe Inc. (NASDAQ:ADBE) Stock Position Increased by Hendley & Co. Inc.

Hendley & Co. Inc. lifted its position in Adobe Inc. (NASDAQ:ADBE) by 1.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,877 shares of the software company’s stock after buying an additional 199 shares during the period. Adobe makes up 1.6% of Hendley & Co. Inc.’s holdings, making the stock its 20th largest position. Hendley & Co. Inc.’s holdings in Adobe were worth $4,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADBE. Copia Wealth Management acquired a new stake in shares of Adobe during the fourth quarter worth $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe during the fourth quarter worth $28,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe during the first quarter worth $26,000. Summit Securities Group LLC acquired a new stake in shares of Adobe during the fourth quarter worth $31,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Adobe during the fourth quarter worth $36,000. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADBE. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Monday, June 23rd. Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird lifted their price target on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $480.08.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $379.56 on Friday. The business’s 50-day moving average price is $396.09 and its two-hundred day moving average price is $408.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a market capitalization of $161.01 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.80 and a beta of 1.51.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 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 firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $4.48 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share 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.