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

GFG Capital LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 28.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,162 shares of the software company's stock after purchasing 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sepio Capital LP boosted its holdings in Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after acquiring an additional 22 shares during the period. Cadence Bank grew its holdings in Adobe by 0.5% in the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after acquiring an additional 22 shares during the last quarter. Eagle Strategies LLC grew its holdings in Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after acquiring an additional 22 shares during the last quarter. RB Capital Management LLC grew its holdings in Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after acquiring an additional 22 shares during the last quarter. Finally, Orin Green Financial LLC grew its holdings in Adobe by 3.8% in the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after acquiring an additional 23 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of recent analyst reports. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a report on Wednesday, July 2nd. Piper Sandler reduced their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Evercore ISI reissued an "outperform" rating and set a $475.00 target price on shares of Adobe in a research note on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 price target on shares of Adobe in a research note on Thursday, June 5th. Finally, Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and decreased their price target for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and an average target price of $480.08.

Adobe Stock Performance

ADBE stock traded down $1.95 during trading on Thursday, reaching $371.43. The stock had a trading volume of 4,019,776 shares, compared to its average volume of 3,452,958. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The stock's 50 day moving average is $396.38 and its two-hundred day moving average is $406.42. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market cap of $157.56 billion, a PE ratio of 23.76, a PEG ratio of 1.77 and a beta of 1.51.

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

Adobe 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.