Fiera Capital Corp Has $124.69 Million Position in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Fiera Capital Corp has reduced its stake in Adobe Inc. by 20.9%, now holding 325,111 shares after selling 85,943 shares during the first quarter.
• Adobe reported a quarterly earnings per share (EPS) of $5.06, exceeding analyst expectations, with a revenue of $5.87 billion, up 10.6% year-over-year.
• Research analysts maintain a generally positive outlook on Adobe, with an average target price of $473.88 and the stock being rated as a "Moderate Buy" overall.

Fiera Capital Corp reduced its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 20.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 325,111 shares of the software company's stock after selling 85,943 shares during the period. Fiera Capital Corp owned 0.08% of Adobe worth $124,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after buying an additional 167 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Adobe by 2.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after purchasing an additional 756 shares during the last quarter. GHE LLC increased its stake in shares of Adobe by 2.9% during the 4th quarter. GHE LLC now owns 23,577 shares of the software company's stock worth $10,484,000 after purchasing an additional 670 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Adobe during the 4th quarter worth $1,158,000. Finally, Summit Securities Group LLC bought a new stake in shares of Adobe during the 4th quarter worth $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

ADBE traded down $6.69 during midday trading on Friday, hitting $351.01. The company had a trading volume of 2,577,808 shares, compared to its average volume of 3,762,988. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $148.90 billion, a PE ratio of 22.46, a P/E/G ratio of 1.73 and a beta of 1.51. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The firm's 50-day simple moving average is $386.92 and its 200-day simple moving average is $399.51.

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 the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter in the previous year, the company earned $4.48 EPS. Adobe's revenue was up 10.6% on a year-over-year basis. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADBE shares. Evercore ISI reissued an "outperform" rating and set a $475.00 target price on shares of Adobe in a research report on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 target price on shares of Adobe in a research report on Thursday, June 5th. Bank of America boosted their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Citigroup cut their target price on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Finally, Oppenheimer cut their target price on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and an average price target of $473.88.

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.