Adobe Inc. (NASDAQ:ADBE) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 32.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,114 shares of the software company's stock after selling 1,032 shares during the period. TD Private Client Wealth LLC's holdings in Adobe were worth $811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Sepio Capital LP boosted its stake in shares of Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after acquiring an additional 22 shares in the last quarter. Cadence Bank lifted its position in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after acquiring an additional 22 shares in the last quarter. Eagle Strategies LLC lifted its position in shares of Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after acquiring an additional 22 shares in the last quarter. RB Capital Management LLC boosted its stake in shares of Adobe by 0.4% in the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after acquiring an additional 22 shares during the last quarter. Finally, Orin Green Financial LLC grew its stake in Adobe by 3.8% during the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after acquiring an additional 23 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADBE has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Finally, Summit Redstone set a $410.00 target price on Adobe in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and a consensus price target of $480.08.

Adobe Stock Performance

ADBE traded down $1.95 during trading on Thursday, reaching $371.43. The company's stock had a trading volume of 4,019,776 shares, compared to its average volume of 3,448,634. 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 company's fifty day moving average price is $396.44 and its 200-day moving average price is $406.94. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a market capitalization of $157.56 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.81 and a beta of 1.51.

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