DekaBank Deutsche Girozentrale Sells 2,788 Shares of Adobe Inc. (NASDAQ:ADBE)

DekaBank Deutsche Girozentrale lowered its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 775,862 shares of the software company's stock after selling 2,788 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.18% of Adobe worth $295,606,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ADBE. Norges Bank purchased a new stake in Adobe in the fourth quarter worth about $2,553,035,000. GAMMA Investing LLC lifted its position 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 valued at $1,147,049,000 after buying an additional 2,984,391 shares in the last quarter. 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 purchasing an additional 952,233 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock worth $395,321,000 after acquiring an additional 830,300 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Adobe during the 4th quarter worth about $365,750,000. Institutional investors own 81.79% of the company's stock.

Adobe Trading Up 1.4%

NASDAQ ADBE traded up $5.31 on Tuesday, hitting $382.24. The company's stock had a trading volume of 3,707,186 shares, compared to its average volume of 3,434,383. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The company's 50-day simple moving average is $396.25 and its 200 day simple moving average is $407.34. The firm has a market cap of $162.15 billion, a P/E ratio of 24.46, a PEG ratio of 1.80 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $4.48 EPS. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on ADBE shares. Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a report on Wednesday, July 2nd. Jefferies Financial Group decreased their target price on Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research note on Monday, March 31st. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and a consensus price target of $480.08.

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.