Entropy Technologies LP cut its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 52.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,329 shares of the software company's stock after selling 14,682 shares during the period. Entropy Technologies LP's holdings in Adobe were worth $5,112,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of ADBE. Cadence Bank increased its holdings in shares of Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares during the period. Eagle Strategies LLC lifted its holdings in shares of Adobe by 1.5% during the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after acquiring an additional 22 shares during the period. RB Capital Management LLC lifted its holdings in shares of Adobe by 0.4% during the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after acquiring an additional 22 shares during the period. Orin Green Financial LLC lifted its holdings in shares of Adobe by 3.8% during the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after acquiring an additional 23 shares during the period. Finally, Diligent Investors LLC lifted its holdings in Adobe by 1.2% during the 4th quarter. Diligent Investors LLC now owns 2,160 shares of the software company's stock valued at $961,000 after purchasing an additional 26 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.
Adobe Stock Performance
Shares of NASDAQ ADBE traded down $7.40 during mid-day trading on Monday, reaching $333.65. 4,360,234 shares of the company's stock were exchanged, compared to its average volume of 3,799,113. The firm has a market capitalization of $141.53 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.62 and a beta of 1.51. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50-day moving average price of $378.55 and a two-hundred day moving average price of $395.47.
Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the firm posted $4.48 EPS. Adobe's revenue was up 10.6% on a year-over-year basis. Analysts predict that Adobe Inc. will post 16.65 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on ADBE. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group upped their target price on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Morgan Stanley decreased their price objective on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird upped their price target on shares of Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $470.00 target price (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $467.58.
View Our Latest Stock Analysis on ADBE
About Adobe
(
Free Report)
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.
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