Adobe Inc. (NASDAQ:ADBE) Shares Sold by Flossbach Von Storch SE

Flossbach Von Storch SE reduced its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,842 shares of the software company's stock after selling 13,294 shares during the quarter. Flossbach Von Storch SE's holdings in Adobe were worth $22,184,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after purchasing an additional 756 shares during the last quarter. GHE LLC lifted its holdings in shares of Adobe by 2.9% during the fourth quarter. GHE LLC now owns 23,577 shares of the software company's stock valued at $10,484,000 after purchasing an additional 670 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Adobe by 85.8% during the fourth quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock valued at $1,043,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Independent Advisor Alliance lifted its holdings in shares of Adobe by 42.6% during the fourth quarter. Independent Advisor Alliance now owns 26,661 shares of the software company's stock valued at $11,855,000 after purchasing an additional 7,963 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Summit Redstone set a $410.00 target price on Adobe in a report on Wednesday, March 19th. Bank of America lifted their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. Morgan Stanley lowered their price target on Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a report on Monday, June 23rd. Finally, Jefferies Financial Group lowered their price target on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. 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 given a strong buy rating to the company's stock. According to MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $480.08.

Adobe Trading Up 1.4%

Shares of ADBE opened at $382.24 on Wednesday. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $162.15 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.79 and a beta of 1.51. The stock's 50-day moving average price is $396.48 and its 200 day moving average price is $407.17.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the company posted $4.48 earnings per share. The company's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current 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.

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