Lakeshore Capital Group Inc. Acquires New Stake in Adobe Inc. (NASDAQ:ADBE)

Lakeshore Capital Group Inc. bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 800 shares of the software company's stock, valued at approximately $356,000.

A number of other institutional investors have also recently modified their holdings of the business. Siemens Fonds Invest GmbH lifted its holdings in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. SWAN Capital LLC acquired a new position in shares of Adobe during the 4th quarter worth about $28,000. Summit Securities Group LLC purchased a new position in Adobe in the 4th quarter valued at about $31,000. Caitlin John LLC lifted its stake in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after buying an additional 48 shares in the last quarter. Finally, Avion Wealth boosted its holdings in Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after buying an additional 46 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ADBE shares. Wells Fargo & Company reduced their target price on Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. UBS Group reduced their price objective on Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Bank of America lowered their target price on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Redburn Atlantic began coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, Piper Sandler decreased their price target 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. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $502.88.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Adobe Stock Up 0.3%

Shares of NASDAQ ADBE traded up $1.40 during midday trading on Friday, hitting $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 capitalization 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. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business's fifty day simple moving average is $379.10 and its two-hundred day simple moving average is $428.70.

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