Duncker Streett & Co. Inc. Trims Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Duncker Streett & Co. Inc. lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 58.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,463 shares of the software company's stock after selling 4,925 shares during the quarter. Duncker Streett & Co. Inc.'s holdings in Adobe were worth $1,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Adobe in the 4th quarter valued at about $2,553,035,000. GAMMA Investing LLC increased its holdings 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 worth $1,147,049,000 after acquiring an additional 2,984,391 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Adobe by 82,528.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company's stock worth $463,701,000 after purchasing an additional 1,041,513 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Adobe by 82.4% in the fourth 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. Finally, Two Sigma Advisers LP increased its holdings in shares of Adobe by 1,414.5% in the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after purchasing an additional 830,300 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ADBE shares. Jefferies Financial Group decreased their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their target price on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Monday. UBS Group raised their target price on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Finally, Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $496.75.

Adobe Stock Up 0.6%

NASDAQ:ADBE traded up $2.22 during trading hours on Tuesday, reaching $382.34. The company had a trading volume of 4,794,607 shares, compared to its average volume of 3,401,527. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market cap of $162.95 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.80 and a beta of 1.55. The business's 50-day simple moving average is $390.90 and its two-hundred day simple moving average is $414.07.

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

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.