Ceera Investments LLC Buys 5,141 Shares of Adobe Inc. (NASDAQ:ADBE)

Ceera Investments LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 48.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,726 shares of the software company's stock after buying an additional 5,141 shares during the period. Adobe comprises approximately 2.1% of Ceera Investments LLC's investment portfolio, making the stock its 15th biggest holding. Ceera Investments LLC's holdings in Adobe were worth $6,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Sepio Capital LP raised its position in Adobe by 2.3% during the fourth quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after purchasing an additional 22 shares in the last quarter. Cadence Bank raised its position in Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC raised its position in Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after purchasing an additional 22 shares in the last quarter. RB Capital Management LLC raised its position in Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after purchasing an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC raised its position in Adobe by 3.8% during the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Up 0.3%

Adobe stock traded up $1.09 during trading hours on Friday, hitting $379.56. 2,863,680 shares of the stock traded hands, compared to its average volume of 3,432,840. The firm's 50-day moving average price is $396.09 and its two-hundred day moving average price is $408.27. 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 company has a market cap of $161.01 billion, a PE ratio of 24.28, a PEG ratio of 1.80 and a beta of 1.51. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion during 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%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.48 earnings per share. On average, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADBE. Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. DA Davidson restated a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. Citigroup reduced their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Finally, Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective on the stock. in a research note on Wednesday. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $480.08.

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.