Y Intercept Hong Kong Ltd Lowers Position in Adobe Inc. (NASDAQ:ADBE)

Y Intercept Hong Kong Ltd reduced its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,561 shares of the software company's stock after selling 923 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Adobe were worth $3,283,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ADBE. Norges Bank acquired a new position in Adobe during the 4th quarter worth approximately $2,553,035,000. GAMMA Investing LLC raised its stake in Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after buying an additional 2,984,391 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after buying an additional 1,216,351 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after buying an additional 952,233 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Adobe by 1,414.5% during the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock worth $395,321,000 after purchasing an additional 830,300 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded down $0.64 during trading on Friday, hitting $371.05. 839,008 shares of the company were exchanged, compared to its average volume of 3,763,186. The company has a market cap of $157.40 billion, a PE ratio of 23.75, a P/E/G ratio of 1.77 and a beta of 1.51. The stock has a 50 day moving average of $391.94 and a 200 day moving average of $401.19. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore ISI reissued an "outperform" rating and set a $475.00 price objective on shares of Adobe in a report on Friday, June 13th. Stifel Nicolaus decreased their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. UBS Group boosted their price objective on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Finally, Mizuho decreased their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $473.88.

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.