2,642 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Vickerman Investment Advisors Inc.

Vickerman Investment Advisors Inc. bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 2,642 shares of the software company's stock, valued at approximately $1,013,000.

A number of other institutional investors also recently bought and sold shares of ADBE. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 151,286 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after purchasing an additional 821,293 shares during the period. Norges Bank purchased a new stake in shares of Adobe in the fourth quarter worth $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Adobe by 12.7% during 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 during the period. Finally, Northern Trust Corp raised its position in shares of Adobe by 14.5% during 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 during the period. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on ADBE shares. Citigroup dropped their target price on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and lowered their price objective for the company from $420.00 to $280.00 in a research report on Wednesday. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Mizuho decreased their target price on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Finally, Stifel Nicolaus dropped their price target on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $480.08.

Adobe Trading Up 0.3%

NASDAQ:ADBE traded up $1.09 during mid-day trading on Friday, hitting $379.56. 2,863,680 shares of the stock traded hands, compared to its average volume of 3,432,840. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The stock has a market capitalization of $161.01 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.80 and a beta of 1.51. The firm's 50 day moving average is $396.09 and its two-hundred day moving average is $408.04.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the business earned $4.48 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.