Bryn Mawr Capital Management LLC Reduces Stock Position in Adobe Inc. (NASDAQ:ADBE)

Bryn Mawr Capital Management LLC lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 51.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,291 shares of the software company's stock after selling 3,550 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Adobe were worth $1,262,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH grew its stake in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the 1st quarter worth about $26,000. SWAN Capital LLC bought a new position in Adobe during the fourth quarter valued at about $28,000. Copia Wealth Management purchased a new stake in Adobe during the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new stake in Adobe in the fourth quarter worth about $31,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 1.3%

Shares of ADBE stock traded up $4.71 on Thursday, hitting $366.48. 2,426,039 shares of the company's stock traded hands, compared to its average volume of 3,465,091. The stock has a market capitalization of $155.46 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 1.73 and a beta of 1.51. The company's fifty day simple moving average is $394.90 and its 200 day simple moving average is $404.10. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. 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 announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (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 for the quarter, compared to analysts' expectations of $5.80 billion. During the same period last year, the firm earned $4.48 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JMP Securities reissued a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. BMO Capital Markets reissued an "outperform" rating and set a $450.00 price objective on shares of Adobe in a report on Friday, June 13th. Citigroup lowered 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. Mizuho dropped their price target on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Finally, Summit Redstone set a $410.00 price target on Adobe in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $473.88.

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.