5 Best Tech Stocks to Buy According to Man GLG

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In this article, we discuss the 5 best tech stocks to buy according to Man GLG. If you want our detailed analysis of these stocks, go directly to the 10 Best Tech Stocks to Buy According to Man GLG.

5. Adobe Inc. (NASDAQ:ADBE)

Man GLG’s Stake Value: $274,216,000

Percentage of Man GLG’s 13F Portfolio: 0.96%

Number of Hedge Fund Holders: 95

Adobe Inc. (NASDAQ:ADBE) is a multinational computer software company offering applications like Adobe Photoshop, Illustrator, PDF, Acrobat Reader, Dreamweaver, and Adobe Creative Cloud, among others. Man GLG holds a $274.2 million position in Adobe Inc. (NASDAQ:ADBE) as of the third quarter, which accounts for 0.96% of the fund’s total investments. 

Assuming coverage of the stock on November 22, Atlantic Equities analyst Peter Sazel upgraded Adobe Inc. (NASDAQ:ADBE) to Overweight from Neutral with a price target of $820, up from $600. 

Arrowstreet Capital is one of the leading Q3 Adobe Inc. (NASDAQ:ADBE) stakeholders from a total of 95 hedge funds that were bullish on the stock. This is compared to 89 funds being long Adobe Inc. (NASDAQ:ADBE) in the preceding quarter. 

Here is what Richie Capital Group has to say about Adobe Inc. (NASDAQ:ADBE) in its Q2 2021 investor letter:

“Adobe Systems (ADBE – up 24.8%) – In the last 15 years, Adobe has transformed itself into a software behemoth, more than tripling its revenue since 2010. The company is famous for its namesake PDF-reader and photo-editing software Photoshop. However, ADBE sells a full suite of software products through a recurring subscription model. The company transitioned from selling boxed software to recurring subscriptions in 2013 and revenues have grown consistently since. The company achieved $13B in revenue in 2020 with 88% Gross Margins.”

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