Compass Wealth Management LLC Sells 1,460 Shares of Adobe Inc. (NASDAQ:ADBE)

Compass Wealth Management LLC lessened its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 20.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,621 shares of the software company's stock after selling 1,460 shares during the period. Compass Wealth Management LLC's holdings in Adobe were worth $2,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Adobe during the 4th quarter worth $2,553,035,000. GAMMA Investing LLC raised its stake in Adobe by 46,806.6% in the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock valued at $1,147,049,000 after purchasing an additional 2,984,391 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Adobe by 82.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after purchasing an additional 952,233 shares during the period. Two Sigma Advisers LP grew its stake in Adobe by 1,414.5% during the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock worth $395,321,000 after buying an additional 830,300 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Adobe in the 4th quarter valued at about $365,750,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Down 0.3%

Shares of NASDAQ ADBE traded down $1.07 during mid-day trading on Monday, reaching $378.24. 1,464,009 shares of the company's stock traded hands, compared to its average volume of 3,425,365. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The stock has a market cap of $160.45 billion, a P/E ratio of 24.20, a PEG ratio of 1.80 and a beta of 1.51. The business has a 50-day simple moving average of $396.09 and a 200 day simple moving average of $407.83.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results 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 business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the firm posted $4.48 EPS. Adobe's quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent analyst reports. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Stifel Nicolaus cut their target price on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. Finally, Mizuho cut their target price on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Adobe has an average rating of "Moderate Buy" and an average 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.