Motiv8 Investments LLC Boosts Holdings in Adobe Inc. (NASDAQ:ADBE)

Motiv8 Investments LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.0% during the 1st quarter, HoldingsChannel reports. The firm owned 2,638 shares of the software company’s stock after acquiring an additional 303 shares during the period. Motiv8 Investments LLC’s holdings in Adobe were worth $1,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Siemens Fonds Invest GmbH increased its holdings in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after acquiring an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new stake in shares of Adobe in the fourth quarter worth $28,000. Copia Wealth Management bought a new position in shares of Adobe in the 4th quarter worth approximately $28,000. Summit Securities Group LLC purchased a new position in shares of Adobe during the 4th quarter worth $31,000. Finally, Garde Capital Inc. purchased a new position in Adobe during the first quarter valued at $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ADBE shares. UBS Group increased their price objective 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. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Piper Sandler dropped their target price on Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Monday. Finally, KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Nine 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $496.75.

Adobe Price Performance

Shares of ADBE stock opened at $387.55 on Thursday. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. The firm has a market capitalization of $165.17 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 1.81 and a beta of 1.55. The stock’s 50-day simple moving average is $391.76 and its 200-day simple moving average is $413.89.

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

About Adobe

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.