Adobe Inc. (NASDAQ:ADBE) Shares Sold by First Bank & Trust

First Bank & Trust reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 21.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,566 shares of the software company's stock after selling 686 shares during the period. First Bank & Trust's holdings in Adobe were worth $984,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Siemens Fonds Invest GmbH raised its position in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the first quarter worth $26,000. SWAN Capital LLC purchased a new position in shares of Adobe during the fourth quarter worth $28,000. Copia Wealth Management acquired a new position in Adobe during the fourth quarter valued at $28,000. Finally, Summit Securities Group LLC acquired a new position in Adobe during the fourth quarter valued at $31,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE traded up $1.09 during mid-day trading on Thursday, hitting $379.56. 2,863,680 shares of the company were exchanged, compared to its average volume of 3,430,343. The stock has a market cap of $161.01 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.79 and a beta of 1.51. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a 50 day moving average of $395.85 and a 200-day moving average of $408.79. 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 (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 53.68% and a net margin of 30.39%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the business earned $4.48 EPS. Adobe's quarterly revenue was up 10.6% on a year-over-year basis. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several analyst reports. DA Davidson reaffirmed a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Mizuho lowered their target price on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Redburn Atlantic cut Adobe from a "hold" rating to a "strong sell" rating and reduced their price target for the company from $420.00 to $280.00 in a research report on Wednesday. Bank of America boosted their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Piper Sandler lowered their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.