Jackson Hole Capital Partners LLC Has $3.57 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Jackson Hole Capital Partners LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 86.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,320 shares of the software company's stock after buying an additional 4,311 shares during the quarter. Jackson Hole Capital Partners LLC's holdings in Adobe were worth $3,574,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Siemens Fonds Invest GmbH increased its position in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after buying an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the 1st quarter valued at $26,000. SWAN Capital LLC bought a new stake in shares of Adobe in the 4th quarter valued at $28,000. Copia Wealth Management bought a new stake in shares of Adobe in the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Adobe in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Performance

NASDAQ:ADBE traded down $0.95 during mid-day trading on Friday, hitting $370.74. The stock had a trading volume of 2,052,034 shares, compared to its average volume of 3,416,126. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The stock has a market cap of $157.27 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.76 and a beta of 1.51. The company's 50 day simple moving average is $391.01 and its 200 day simple moving average is $400.84. 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 quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $4.48 earnings per share. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Oppenheimer lowered their price objective on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Stifel Nicolaus lowered their target price on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. Evercore ISI reiterated an "outperform" rating and set a $475.00 target price on shares of Adobe in a report on Friday, June 13th. Finally, Jefferies Financial Group lowered their target price on Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $473.88.

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.