Ownership Capital B.V. Lowers Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Ownership Capital B.V. trimmed its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 292,699 shares of the software company's stock after selling 54,595 shares during the quarter. Adobe makes up 5.1% of Ownership Capital B.V.'s holdings, making the stock its 9th largest holding. Ownership Capital B.V. owned about 0.07% of Adobe worth $112,259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ADBE. Callahan Advisors LLC boosted its position in shares of Adobe by 34.7% in the first quarter. Callahan Advisors LLC now owns 19,620 shares of the software company's stock worth $7,525,000 after buying an additional 5,054 shares during the period. Country Club Bank boosted its position in shares of Adobe by 1.2% in the first quarter. Country Club Bank now owns 3,338 shares of the software company's stock worth $1,287,000 after buying an additional 40 shares during the period. Ramsay Stattman Vela & Price Inc. boosted its position in shares of Adobe by 3.6% in the first quarter. Ramsay Stattman Vela & Price Inc. now owns 11,975 shares of the software company's stock worth $4,593,000 after buying an additional 415 shares during the period. MJP Associates Inc. ADV boosted its position in shares of Adobe by 13.2% in the first quarter. MJP Associates Inc. ADV now owns 855 shares of the software company's stock worth $328,000 after buying an additional 100 shares during the period. Finally, Hunter Associates Investment Management LLC boosted its position in shares of Adobe by 67.2% in the first quarter. Hunter Associates Investment Management LLC now owns 1,567 shares of the software company's stock worth $603,000 after buying an additional 630 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 2.2%

Shares of ADBE traded down $8.08 during trading hours on Friday, reaching $363.35. The stock had a trading volume of 3,545,215 shares, compared to its average volume of 3,454,388. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The firm has a 50-day moving average of $396.03 and a 200 day moving average of $405.83. The company has a market cap of $154.13 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.76 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter in the prior year, the company earned $4.48 EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ADBE shares. Bank of America boosted their price target on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Oppenheimer dropped their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $480.00 price objective on shares of Adobe in a research note on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Adobe currently has a consensus rating of "Moderate Buy" and a consensus target price of $480.08.

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.