111 Capital Acquires New Holdings in Adobe Inc. (NASDAQ:ADBE)

111 Capital purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,516 shares of the software company's stock, valued at approximately $1,119,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Copia Wealth Management purchased a new stake in Adobe during the fourth quarter worth about $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe during the 4th quarter valued at approximately $28,000. Summit Securities Group LLC purchased a new stake in shares of Adobe during the 4th quarter worth approximately $31,000. Caitlin John LLC boosted its stake in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after acquiring an additional 48 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Adobe in the 4th quarter worth approximately $36,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a report on Monday, March 31st. Evercore ISI lowered their target price on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Redburn Atlantic began coverage on shares of Adobe in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Royal Bank of Canada reduced their price target on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, DA Davidson lowered their price target on shares of Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and an average target price of $502.88.

Adobe Stock Up 0.3%

ADBE stock traded up $1.40 during midday trading on Friday, reaching $414.76. The company had a trading volume of 4,229,413 shares, compared to its average volume of 3,422,194. The company has a 50 day moving average of $379.10 and a two-hundred day moving average of $427.27. The company has a market capitalization of $176.77 billion, a P/E ratio of 33.45, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the company earned $4.48 earnings per share. On average, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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.