GFG Capital LLC Purchases 1,355 Shares of Adobe Inc. (NASDAQ:ADBE)

GFG Capital LLC grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 28.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,162 shares of the software company's stock after acquiring an additional 1,355 shares during the quarter. GFG Capital LLC's holdings in Adobe were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Linden Thomas Advisory Services LLC grew its stake in Adobe by 6.7% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 11,391 shares of the software company's stock worth $4,369,000 after buying an additional 719 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Adobe by 10.3% in the first quarter. Greenleaf Trust now owns 47,912 shares of the software company's stock valued at $18,376,000 after buying an additional 4,456 shares during the period. Optimum Investment Advisors lifted its holdings in shares of Adobe by 1.8% during the first quarter. Optimum Investment Advisors now owns 2,841 shares of the software company's stock valued at $1,090,000 after purchasing an additional 50 shares during the last quarter. Trek Financial LLC purchased a new stake in shares of Adobe during the first quarter valued at $211,000. Finally, OMNI 360 Wealth Inc. purchased a new stake in shares of Adobe during the first quarter valued at $213,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 2.2%

Shares of NASDAQ ADBE traded down $8.08 during trading on Friday, hitting $363.35. The stock had a trading volume of 3,545,215 shares, compared to its average volume of 3,453,327. The firm has a fifty day moving average of $396.38 and a two-hundred day moving average of $406.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $154.13 billion, a PE ratio of 23.25, a PEG ratio of 1.77 and a beta of 1.51. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the firm earned $4.48 earnings per share. The company's revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. Piper Sandler dropped their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird lifted their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Royal Bank Of Canada restated an "outperform" rating and issued a $480.00 price target on shares of Adobe in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley decreased their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $480.08.

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.