Callan Capital LLC Has $1.15 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Callan Capital LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 9.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,997 shares of the software company’s stock after buying an additional 255 shares during the quarter. Callan Capital LLC’s holdings in Adobe were worth $1,149,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Copia Wealth Management bought a new position in Adobe in the fourth quarter valued at approximately $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter valued at $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the 1st quarter valued at $26,000. Summit Securities Group LLC bought a new position in shares of Adobe in the 4th quarter valued at $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Adobe during the 4th quarter worth $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research note on Wednesday, July 2nd. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. BMO Capital Markets restated an “outperform” rating and issued a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. Robert W. Baird lifted their price target on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Finally, Morgan Stanley dropped their price objective on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $480.08.

Adobe Stock Up 0.3%

Adobe stock opened at $379.56 on Monday. The firm has a market cap of $161.01 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.80 and a beta of 1.51. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50 day moving average price of $396.09 and a two-hundred day moving average price of $407.83.

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

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.