Adobe Inc. (NASDAQ:ADBE) Stock Position Boosted by Grace & Mercy Foundation Inc.

Grace & Mercy Foundation Inc. raised its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,120 shares of the software company's stock after buying an additional 13,520 shares during the period. Adobe comprises 11.6% of Grace & Mercy Foundation Inc.'s portfolio, making the stock its 6th biggest position. Grace & Mercy Foundation Inc.'s holdings in Adobe were worth $51,636,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sepio Capital LP boosted its stake in shares of Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after acquiring an additional 22 shares during the last quarter. Cadence Bank boosted its stake in shares of Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after acquiring an additional 22 shares during the last quarter. Eagle Strategies LLC boosted its stake in shares of Adobe by 1.5% during the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after acquiring an additional 22 shares during the last quarter. Foster Group Inc. boosted its stake in shares of Adobe by 4.6% during the 4th quarter. Foster Group Inc. now owns 526 shares of the software company's stock worth $234,000 after acquiring an additional 23 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Adobe by 0.4% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock worth $2,404,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ADBE shares. Robert W. Baird dropped their price target on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Bank of America decreased their price objective on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Piper Sandler decreased their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Citigroup decreased their price objective on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Finally, Jefferies Financial Group decreased their price objective on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.

Adobe Stock Up 0.4%

Shares of NASDAQ ADBE traded up $1.53 during trading hours on Tuesday, hitting $397.47. 260,284 shares of the stock were exchanged, compared to its average volume of 3,427,572. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $169.40 billion, a PE ratio of 32.02, a PEG ratio of 2.15 and a beta of 1.55. The firm has a fifty day moving average price of $378.57 and a 200-day moving average price of $435.81. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

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

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were purchased 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 $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

About Adobe

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.