Archford Capital Strategies LLC Lowers Holdings in Adobe Inc. (NASDAQ:ADBE)

Archford Capital Strategies LLC reduced its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 62.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,351 shares of the software company's stock after selling 2,271 shares during the period. Archford Capital Strategies LLC's holdings in Adobe were worth $518,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADBE. Siemens Fonds Invest GmbH raised its holdings in 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 buying an additional 39,888 shares during the last quarter. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter worth about $28,000. Copia Wealth Management bought a new position in Adobe in the 4th quarter valued at about $28,000. Summit Securities Group LLC acquired a new position in Adobe during the 4th quarter valued at about $31,000. Finally, Garde Capital Inc. bought a new stake in Adobe during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Performance

Shares of ADBE stock traded up $0.88 during trading on Friday, reaching $385.83. 5,081,963 shares of the company's stock traded hands, compared to its average volume of 3,406,087. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a market capitalization of $163.67 billion, a P/E ratio of 24.69, a PEG ratio of 1.82 and a beta of 1.55. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The firm's 50-day moving average is $392.49 and its 200 day moving average is $412.76.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ADBE shares. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 target price (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Citigroup reduced their target price on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Robert W. Baird boosted their price target on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Morgan Stanley decreased their price objective on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Mizuho cut their target price on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $496.75.

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.