5 Tech Stocks to Buy Now According to Barry Dargan’s Intermede Investment Partners

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In this article, we discuss 5 tech stocks to buy now according to Barry Dargan’s Intermede Investment Partners. If you want to read our detailed analysis of Dargan’s history, investment philosophy, and hedge fund performance, go directly to 10 Tech Stocks To Buy Now According To Barry Dargan’s Intermede Investment Partners.

5. Adobe Inc. (NASDAQ:ADBE)

Intermede Investment Partners’ Stake Value: $176,253,000
Intermede Investment Partners’ 13F Portfolio: 3.62%
Number of Hedge Fund Holders: 262

Adobe Inc. (NASDAQ:ADBE) is a Delaware-based software firm based in the United States. On April 29, Exane BNP Paribas analyst Stefan Slowinski assigned an Outperform rating to Adobe Inc. (NASDAQ:ADBE) and a $570 price target.

Intermede Investment Partners also strengthened its position in Adobe Inc. (NASDAQ:ADBE) by buying 114,586 additional shares in Q4 2021. This makes their stake in Adobe Inc. (NASDAQ:ADBE) total 310,819 shares worth $176.25 million.

Adobe Inc. (NASDAQ:ADBE) was found in the public stock portfolios of 94 hedge funds at the end of December 2021, compared to 95 funds the previous quarter, according to the database of Insider Monkey. Fisher Asset Management is the biggest stakeholder of Adobe Inc. (NASDAQ:ADBE) as of the first quarter of 2022, reducing its stake in the company by 3%, holding 6.54 million shares worth almost $2.98 billion.

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

“Adobe Inc. (NASDAQ:ADBE) (up 24.8%) – In the last 15 years, Adobe Inc. (NASDAQ:ADBE) 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, Adobe Inc. (NASDAQ:ADBE) sells a full suite of software products through a recurring subscription model. Adobe Inc. (NASDAQ:ADBE) transitioned from selling boxed software to recurring subscriptions in 2013 and revenues have grown consistently since. Adobe Inc. (NASDAQ:ADBE) achieved $13B in revenue in 2020 with 88% Gross Margins.”



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