Adobe Inc. $ADBE Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 27.0% in the first quarter, Holdings Channel.com reports. The firm owned 6,045 shares of the software company’s stock after buying an additional 1,286 shares during the period. Jacobi Capital Management LLC’s holdings in Adobe were worth $2,318,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ADBE. Brighton Jones LLC grew its stake in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock worth $12,882,000 after acquiring an additional 756 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Adobe by 18.8% in the 4th quarter. ProShare Advisors LLC now owns 591,711 shares of the software company’s stock worth $263,122,000 after acquiring an additional 93,841 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Adobe in the 4th quarter worth approximately $35,574,000. Finally, Point72 Europe London LLP acquired a new position in shares of Adobe in the 4th quarter worth approximately $4,772,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 0.1%

ADBE opened at $350.55 on Friday. Adobe Inc. has a one year low of $330.04 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s fifty day moving average is $357.92 and its 200-day moving average is $380.45. The company has a market capitalization of $148.70 billion, a PE ratio of 22.43, a P/E/G ratio of 1.66 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the business earned $4.48 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. Barclays decreased their target price on Adobe from $567.00 to $460.00 and set an “overweight” rating for the company in a research report on Friday, September 5th. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Citigroup cut their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America raised their price target on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Finally, Oppenheimer cut their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $444.89.

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.