Jacobs & Co. CA Raises Stake in Adobe Inc. (NASDAQ:ADBE)

Jacobs & Co. CA grew its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,122 shares of the software company's stock after buying an additional 1,032 shares during the quarter. Adobe accounts for 1.6% of Jacobs & Co. CA's investment portfolio, making the stock its 16th largest holding. Jacobs & Co. CA's holdings in Adobe were worth $14,621,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ADBE. Geode Capital Management LLC raised its position in Adobe by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock worth $4,739,788,000 after acquiring an additional 151,286 shares in the last quarter. Norges Bank purchased a new position in shares of Adobe in the 4th quarter valued at about $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock valued at $2,375,345,000 after purchasing an additional 600,146 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Adobe by 14.5% in the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock valued at $2,363,125,000 after purchasing an additional 672,919 shares in the last quarter. Finally, Edgewood Management LLC increased its holdings in shares of Adobe by 20.7% in the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock valued at $1,805,009,000 after purchasing an additional 696,172 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by insiders.

Adobe Trading Up 0.3%

Shares of NASDAQ:ADBE traded up $1.40 during midday trading on Friday, reaching $414.76. The company's stock had a trading volume of 4,229,413 shares, compared to its average volume of 3,438,456. The firm has a market cap of $176.77 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The business has a 50 day moving average price of $379.10 and a 200 day moving average price of $428.70.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the business earned $4.48 EPS. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research analyst reports. KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Oppenheimer dropped their target price on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Mizuho dropped their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Finally, Evercore ISI dropped their price target on Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $502.88.

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.