Adobe Inc. (NASDAQ:ADBE) Shares Bought by Astoria Portfolio Advisors LLC.

Astoria Portfolio Advisors LLC. boosted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 125.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,931 shares of the software company's stock after acquiring an additional 1,632 shares during the period. Astoria Portfolio Advisors LLC.'s holdings in Adobe were worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH grew its position in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the first quarter worth $26,000. SWAN Capital LLC acquired a new stake in shares of Adobe during the fourth quarter worth $28,000. Copia Wealth Management purchased a new stake in shares of Adobe during the fourth quarter valued at $28,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Adobe during the fourth quarter valued at $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADBE. DA Davidson restated a "buy" rating and issued a $500.00 target price on shares of Adobe in a research note on Friday, June 20th. Redburn Atlantic restated a "sell" rating and issued a $280.00 price objective (down from $420.00) on shares of Adobe in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company reissued an "overweight" rating and set a $470.00 target price (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Finally, KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $480.08.

Adobe Price Performance

Shares of ADBE traded down $13.63 during mid-day trading on Wednesday, hitting $378.47. 6,906,864 shares of the company were exchanged, compared to its average volume of 3,425,546. The company has a 50 day moving average of $394.95 and a 200-day moving average of $409.57. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $160.55 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.51.

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

Adobe 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.