Adobe Inc. (NASDAQ:ADBE) Position Increased by Affinity Capital Advisors LLC

Affinity Capital Advisors LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 879 shares of the software company’s stock after acquiring an additional 59 shares during the period. Affinity Capital Advisors LLC’s holdings in Adobe were worth $310,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Siemens Fonds Invest GmbH raised its holdings in shares of Adobe by 252.9% during the 4th 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 acquired a new stake in Adobe during the fourth quarter valued at approximately $28,000. Summit Securities Group LLC acquired a new position in Adobe in the fourth quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. bought a new stake in Adobe during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Adobe Trading Down 5.3%

Shares of NASDAQ ADBE opened at $391.68 on Friday. The stock has a market cap of $166.93 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The firm has a 50 day moving average price of $386.76 and a two-hundred day moving average price of $421.08. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the previous year, the business earned $4.48 EPS. As a group, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday, March 21st. Summit Redstone set a $410.00 price objective on shares of Adobe in a research note on Wednesday, March 19th. Stifel Nicolaus lowered their price target on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley dropped their price target on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $494.67.

Adobe Company Profile

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.