Valicenti Advisory Services Inc. Has $3.45 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Valicenti Advisory Services Inc. boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 20.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,007 shares of the software company’s stock after purchasing an additional 1,552 shares during the quarter. Valicenti Advisory Services Inc.’s holdings in Adobe were worth $3,454,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Siemens Fonds Invest GmbH raised its stake in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new position in Adobe in the fourth quarter worth $28,000. Copia Wealth Management bought a new position in Adobe in the fourth quarter worth $28,000. Summit Securities Group LLC bought a new position in Adobe in the fourth quarter worth $31,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe during the 1st quarter worth about $34,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Summit Redstone set a $410.00 price objective on shares of Adobe in a report on Wednesday, March 19th. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Bank of America raised their target price on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Monday. Finally, Citigroup cut their price objective on Adobe from $465.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, June 16th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $496.75.

Adobe Stock Performance

ADBE stock opened at $382.34 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18. The company has a 50 day moving average price of $390.90 and a 200 day moving average price of $414.07. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market capitalization of $162.95 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.55.

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