Bank Julius Baer & Co. Ltd Zurich Cuts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Bank Julius Baer & Co. Ltd Zurich decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 26.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 599,491 shares of the software company's stock after selling 217,574 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.14% of Adobe worth $252,518,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ADBE. Norges Bank bought a new stake in shares of Adobe during the 4th quarter worth approximately $2,553,035,000. GAMMA Investing LLC raised its stake in shares of Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after purchasing an additional 2,984,391 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock valued at $498,000 after acquiring an additional 1,216,351 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Adobe by 82.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock valued at $937,291,000 after acquiring an additional 952,233 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after acquiring an additional 830,300 shares during the period. Institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Bank of America increased their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Robert W. Baird increased their price target on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Evercore ISI restated an "outperform" rating and issued a $475.00 price target on shares of Adobe in a research note on Friday, June 13th. Finally, Redburn Atlantic cut Adobe from a "hold" rating to a "strong sell" rating and dropped their price target for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $473.88.

Adobe Trading Down 0.2%

NASDAQ ADBE traded down $0.77 during trading hours on Thursday, hitting $371.69. 2,672,750 shares of the company's stock were exchanged, compared to its average volume of 3,783,490. The stock has a 50-day simple moving average of $392.60 and a 200 day simple moving average of $401.60. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The firm has a market cap of $157.67 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.77 and a beta of 1.51. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating 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 last year, the firm posted $4.48 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts forecast 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.