5 Best ESG Stocks to Buy Now

4. Adobe Inc. (NASDAQ: ADBE)

Number of hedge fund holders: 107  

Adobe Inc. (NASDAQ: ADBE) is placed fourth on our list of 10 best ESG stocks to buy now. The stock has returned more than 34% to investors in the past year. The company makes and sells different types of software for creative professionals around the world. It is one of the most sustainable companies in the world due in part to the nature of the business. MSCI has an ESG rating of AA for the company. 

On June 18, investment advisory MIzuho maintained a Buy rating on Adobe Inc. (NASDAQ: ADBE) stock with a revised price target of $640 from $600, underlining the digital media growth of the firm as a major growth catalyst in the near-term future. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Adobe Inc. (NASDAQ: ADBE) with 5.9 million shares worth more than $2.8 billion.

Here is what Polen Capital has to say about Adobe Inc. (NASDAQ: ADBE) in its Q1 2021 investor letter:

“Adobe and Autodesk are both prime examples of the rotation that occurred during the quarter. Both are dominant businesses in their respective markets, which are experiencing structural tailwinds. Despite each business’s position of strength, the stocks of cyclicals and businesses with higher leverage and lower profitability were more favored this past quarter. In stark contrast, Adobe and Autodesk both have low leverage, high levels of profitability, high recurring revenues that mitigate cyclicality, and are both capital-light business models—all attributes we appreciate as investors. Adobe and Autodesk were also two of the top three performers within the Portfolio during 2020.”