Ken Fisher Stock Portfolio: 5 Biggest Tech Stocks

4. Adobe Inc. (NASDAQ:ADBE)

Fisher Asset Management’s Stake Value: $3,634,676,000
Percent of Fisher Asset Management’s 13F Portfolio: 2.28%
Number of Hedge Fund Holders: 89

Adobe Inc. (NASDAQ:ADBE) stands fourth on our list of Ken Fisher’s top tech stock picks. It is an American technology and computer software company whose software is used in multiple fields, such as graphic designing, video editing, photography, and web development. 

This September, JPMorgan lifted its price target on Adobe Inc. (NASDAQ:ADBE) to $680, while keeping an ‘Overweight’ rating on the shares. The firm’s analyst Sterling Auty appreciated the company’s Q3 earnings beat and sees a positive fundamental outlook. In 2021, Adobe Inc. (NASDAQ:ADBE) delivered an 18.7% return to shareholders. 

As of Q2 2021, 89 hedge funds tracked by Insider Monkey have positions in Adobe Inc. (NASDAQ:ADBE), down from 107 in the previous quarter. The total value of these stakes is over $13 billion. Aubrey Capital Management is the company’s leading shareholder, with shares worth $9.07 billion. 

Richie Capital Group mentioned Adobe Inc. (NASDAQ:ADBE) in its second-quarter 2021 investor letter. Here is what the firm has to say: 

“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.”