RFG Advisory LLC Increases Position in Adobe Inc. (NASDAQ:ADBE)

RFG Advisory LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 72.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,702 shares of the software company's stock after purchasing an additional 1,139 shares during the period. RFG Advisory LLC's holdings in Adobe were worth $1,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Siemens Fonds Invest GmbH boosted its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares during the last quarter. SWAN Capital LLC acquired a new stake in Adobe in the 4th quarter worth about $28,000. Copia Wealth Management acquired a new stake in Adobe in the 4th quarter worth about $28,000. Summit Securities Group LLC acquired a new stake in Adobe in the 4th quarter worth about $31,000. Finally, Caitlin John LLC boosted its holdings in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America lowered their price objective on Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. BMO Capital Markets lowered their target price on Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Mizuho lowered their target price on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Finally, Robert W. Baird lowered their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Adobe Stock Up 0.3%

Shares of NASDAQ ADBE opened at $415.20 on Friday. The firm has a market cap of $176.96 billion, a price-to-earnings ratio of 33.48, a PEG 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 52-week low of $332.01 and a 52-week high of $587.75. The business's 50 day moving average is $380.73 and its two-hundred day moving average is $425.81.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates 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 company earned $4.48 earnings per share. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Transactions at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.

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