800 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Lakeshore Capital Group Inc.

Lakeshore Capital Group Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 800 shares of the software company’s stock, valued at approximately $356,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Adobe by 1.4% during the 4th 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 last quarter. Norges Bank bought a new position in Adobe during the 4th quarter worth $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 worth $2,375,345,000 after buying an additional 600,146 shares during the last quarter. Northern Trust Corp grew its stake in Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock worth $2,363,125,000 after buying an additional 672,919 shares during the last quarter. Finally, Edgewood Management LLC grew its stake in Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company’s stock worth $1,805,009,000 after buying an additional 696,172 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ADBE shares. Stifel Nicolaus lowered their price objective on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. lowered their price objective on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research note on Thursday. UBS Group decreased their price target on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Evercore ISI decreased their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $502.88.

Adobe Trading Down 1.6%

Shares of Adobe stock opened at $407.69 on Monday. 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 firm has a market cap of $173.76 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The business has a fifty day simple moving average of $377.13 and a 200-day simple moving average of $430.96. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion during 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 prior year, the firm posted $4.48 earnings per share. On average, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.