Adobe Inc. (NASDAQ:ADBE) Position Cut by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 69.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333 shares of the software company's stock after selling 741 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Adobe were worth $128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Siemens Fonds Invest GmbH boosted its stake in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the 1st quarter valued at $26,000. SWAN Capital LLC bought a new position in Adobe during the 4th quarter valued at $28,000. Copia Wealth Management bought a new position in Adobe during the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC bought a new position in Adobe during the 4th quarter valued at $31,000. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $379.56 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The business has a fifty day simple moving average of $396.09 and a 200 day simple moving average of $408.27. The firm has a market cap of $161.01 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 1.80 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data 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. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company earned $4.48 earnings per share. Adobe's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Stifel Nicolaus decreased their price target on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Robert W. Baird increased their price target on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Oppenheimer decreased their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Finally, Mizuho cut their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company 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.

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