LaFleur & Godfrey LLC Makes New $1.03 Million Investment in Adobe Inc. (NASDAQ:ADBE)

LaFleur & Godfrey LLC bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,696 shares of the software company's stock, valued at approximately $1,034,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Siemens Fonds Invest GmbH grew its holdings in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new stake in shares of Adobe in the 4th quarter valued at about $28,000. Copia Wealth Management purchased a new stake in shares of Adobe in the 4th quarter worth approximately $28,000. Summit Securities Group LLC purchased a new stake in shares of Adobe in the 4th quarter worth approximately $31,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe during the first quarter valued at approximately $34,000. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent research reports. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $480.00 price target on shares of Adobe in a report on Thursday, June 5th. Citigroup decreased their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Monday. Finally, Bank of America boosted their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $496.75.

Adobe Price Performance

NASDAQ:ADBE traded up $5.21 during trading hours on Wednesday, hitting $387.55. 3,715,639 shares of the stock were exchanged, compared to its average volume of 3,402,785. The firm's fifty day moving average price is $390.90 and its 200 day moving average price is $414.07. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a market cap of $165.17 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.80 and a beta of 1.55. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 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 analysts' expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $4.48 earnings per share. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.