Core Alternative Capital Purchases 11,127 Shares of Adobe Inc. (NASDAQ:ADBE)

Core Alternative Capital grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9,760.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,241 shares of the software company's stock after purchasing an additional 11,127 shares during the period. Core Alternative Capital's holdings in Adobe were worth $4,311,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADBE. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Robert W. Baird raised their target price on shares of Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. UBS Group boosted their target price on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Monday, June 23rd. Finally, Piper Sandler lowered their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $480.08.

Adobe Price Performance

Shares of NASDAQ ADBE traded up $1.09 during mid-day trading on Friday, reaching $379.56. The company had a trading volume of 2,863,680 shares, compared to its average volume of 3,432,840. The firm has a market cap of $161.01 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.80 and a beta of 1.51. The business's 50-day simple moving average is $396.09 and its 200 day simple moving average is $408.04. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the business posted $4.48 EPS. The company's revenue was up 10.6% compared to the same quarter last year. On average, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.