Deseret Mutual Benefit Administrators Has $207,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Deseret Mutual Benefit Administrators increased its stake in Adobe Inc. (NASDAQ:ADBE) by 16.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 541 shares of the software company’s stock after acquiring an additional 76 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Adobe were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Sepio Capital LP raised its holdings in Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after purchasing an additional 22 shares during the last quarter. Cadence Bank increased its position in shares of Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after buying an additional 22 shares during the period. Eagle Strategies LLC increased its position in shares of Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after buying an additional 22 shares during the period. RB Capital Management LLC raised its stake in Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock worth $2,198,000 after buying an additional 22 shares during the last quarter. Finally, Orin Green Financial LLC lifted its holdings in Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock valued at $276,000 after buying an additional 23 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

ADBE opened at $386.88 on Tuesday. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a market cap of $164.11 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.83 and a beta of 1.55. The company’s fifty day moving average price is $394.10 and its two-hundred day moving average price is $409.69. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

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

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Monday, June 23rd. DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday, June 20th. UBS Group upped their target price on Adobe from $380.00 to $430.00 and gave the company a “neutral” rating in a research report on Monday, June 9th. Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Finally, Oppenheimer dropped their price target on Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Friday, June 13th. Nine analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $496.75.

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.