Berbice Capital Management LLC Sells 1,156 Shares of Adobe Inc. (NASDAQ:ADBE)

Berbice Capital Management LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 21.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,140 shares of the software company's stock after selling 1,156 shares during the quarter. Adobe makes up 1.4% of Berbice Capital Management LLC's holdings, making the stock its 18th biggest holding. Berbice Capital Management LLC's holdings in Adobe were worth $1,588,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Siemens Fonds Invest GmbH grew its position in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the 1st quarter worth approximately $26,000. SWAN Capital LLC purchased a new stake in Adobe in the 4th quarter worth approximately $28,000. Copia Wealth Management purchased a new stake in Adobe in the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC purchased a new stake in Adobe in the 4th quarter worth approximately $31,000. Institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of ADBE traded down $8.08 during mid-day trading on Friday, reaching $363.35. The stock had a trading volume of 3,545,215 shares, compared to its average volume of 3,454,388. The firm has a market cap of $154.13 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.76 and a beta of 1.51. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The business has a fifty day moving average of $396.03 and a 200 day moving average of $405.83. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99.

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 during the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $4.48 earnings per share. Equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Evercore ISI restated an "outperform" rating and set a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Piper Sandler reduced their target price on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. DA Davidson reaffirmed a "buy" rating and set a $500.00 target price on shares of Adobe in a research note on Friday, June 20th. Finally, Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $480.08.

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.