Compagnie Lombard Odier SCmA Cuts Position in Adobe Inc. (NASDAQ:ADBE)

Compagnie Lombard Odier SCmA reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 23.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 149,304 shares of the software company's stock after selling 45,902 shares during the period. Compagnie Lombard Odier SCmA's holdings in Adobe were worth $57,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH grew its position in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares during the period. SWAN Capital LLC acquired a new stake in shares of Adobe during the 4th quarter valued at about $28,000. Copia Wealth Management acquired a new stake in shares of Adobe during the 4th quarter valued at about $28,000. Summit Securities Group LLC acquired a new stake in shares of Adobe during the 4th quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Adobe during the 4th quarter valued at about $36,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADBE shares. Jefferies Financial Group dropped their target price on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Robert W. Baird dropped their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Stifel Nicolaus dropped their target price on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday. Morgan Stanley dropped their target price on Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group raised their target price on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and a consensus target price of $494.67.

Adobe Price Performance

Shares of Adobe stock traded down $22.00 on Friday, hitting $391.68. 10,618,205 shares of the company were exchanged, compared to its average volume of 3,381,385. The stock has a market capitalization of $166.93 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a 50-day moving average price of $386.76 and a 200 day moving average price of $420.43. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the previous year, the company earned $4.48 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.