DMC Group LLC Sells 942 Shares of Adobe Inc. (NASDAQ:ADBE)

DMC Group LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 61.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 601 shares of the software company's stock after selling 942 shares during the quarter. DMC Group LLC's holdings in Adobe were worth $231,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Copia Wealth Management acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $31,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $1.95 during mid-day trading on Thursday, reaching $371.43. The company had a trading volume of 4,019,776 shares, compared to its average volume of 3,452,958. 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 Inc. has a one year low of $332.01 and a one year high of $587.75. The firm has a market cap of $157.56 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.77 and a beta of 1.51. The business's 50-day simple moving average is $396.44 and its 200 day simple moving average is $406.94.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping 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 company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter last year, the business earned $4.48 earnings per share. Adobe's revenue was up 10.6% on a year-over-year basis. On average, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADBE shares. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Bank of America increased their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Jefferies Financial Group dropped their price target on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Finally, Morgan Stanley dropped their price target on Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company 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.