Jacobs & Co. CA Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Jacobs & Co. CA grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,122 shares of the software company's stock after acquiring an additional 1,032 shares during the period. Adobe accounts for 1.6% of Jacobs & Co. CA's holdings, making the stock its 16th biggest holding. Jacobs & Co. CA's holdings in Adobe were worth $14,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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Several other institutional investors and hedge funds have also recently modified their holdings of ADBE. Centre Asset Management LLC purchased a new stake in Adobe during the first quarter worth $8,727,000. Hobart Private Capital LLC raised its holdings in Adobe by 70.7% in the first quarter. Hobart Private Capital LLC now owns 1,164 shares of the software company's stock worth $446,000 after purchasing an additional 482 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Adobe by 2.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 72,002 shares of the software company's stock valued at $27,615,000 after acquiring an additional 1,698 shares during the last quarter. Fire Capital Management LLC acquired a new stake in Adobe in the fourth quarter valued at approximately $1,351,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Adobe during the fourth quarter worth $69,000. Institutional investors own 81.79% of the company's stock.

Insider Buying and Selling

In other news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

• A Bull Case for Adobe Stock Remains Today

Several research analysts recently issued reports on ADBE shares. Citigroup reduced their target price on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Bank of America dropped their price target on Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Oppenheimer reduced their price objective on Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Morgan Stanley decreased their target price on Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird cut their price target on shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Read Our Latest Stock Analysis on Adobe

Adobe Stock Down 0.2%

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ADBE stock opened at $412.23 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $378.50 and a two-hundred day moving average of $430.10. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a market cap of $175.69 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly 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. 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 analyst estimates of $5.66 billion. During the same period in the prior year, the business earned $4.48 earnings per share. As a group, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.

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