Adobe Inc. (NASDAQ:ADBE) Shares Sold by Quilter Plc

Quilter Plc decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,262 shares of the software company's stock after selling 4,443 shares during the quarter. Quilter Plc's holdings in Adobe were worth $12,373,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH lifted its holdings in shares of Adobe by 252.9% during the fourth 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 period. SWAN Capital LLC purchased a new stake in shares of Adobe in the fourth quarter valued at about $28,000. Copia Wealth Management acquired a new position in shares of Adobe during the fourth quarter worth about $28,000. Summit Securities Group LLC purchased a new position in Adobe during the fourth quarter worth about $31,000. Finally, Garde Capital Inc. acquired a new stake in Adobe in the first quarter valued at about $34,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Ratings Changes

ADBE has been the subject of several recent analyst reports. Summit Redstone set a $410.00 price target on Adobe in a report on Wednesday, March 19th. Citigroup reduced their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Robert W. Baird boosted their price target on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Finally, UBS Group boosted their price objective on shares of Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $496.75.

Adobe Stock Performance

Shares of ADBE opened at $384.95 on Friday. The company has a market capitalization of $164.07 billion, a PE ratio of 24.63, a PEG ratio of 1.84 and a beta of 1.55. 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 quick ratio of 1.18 and a current ratio of 0.99. The company's 50 day moving average price is $392.49 and its 200 day moving average price is $412.76.

Adobe (NASDAQ:ADBE - Get Free Report) last announced 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. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm 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 business earned $4.48 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

About Adobe

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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