Machina Capital S.A.S. Has $942,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Machina Capital S.A.S. decreased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 31.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,456 shares of the software company's stock after selling 1,102 shares during the period. Machina Capital S.A.S.'s holdings in Adobe were worth $942,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ADBE. Norges Bank acquired a new stake in Adobe in the 4th quarter valued at about $2,553,035,000. GAMMA Investing LLC lifted its stake in Adobe by 46,806.6% in the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock valued at $1,147,049,000 after purchasing an additional 2,984,391 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock valued at $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Adobe by 82.4% in the 4th 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 lifted its stake in Adobe by 1,414.5% in the 4th 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 Ratings Changes

Several equities research analysts recently issued reports on the stock. 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 note on Friday, June 13th. Royal Bank Of Canada restated an "outperform" rating and set a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. DA Davidson restated a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, June 20th. Rothschild & Co Redburn downgraded shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. Finally, UBS Group raised their price objective on shares of Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Adobe has a consensus rating of "Moderate Buy" and a consensus target price of $473.88.

Adobe Trading Down 0.3%

Shares of Adobe stock traded down $0.95 during trading on Friday, hitting $370.74. The company's stock had a trading volume of 2,052,034 shares, compared to its average volume of 3,416,126. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The stock has a market cap of $157.27 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.76 and a beta of 1.51. The stock has a 50-day moving average price of $391.01 and a two-hundred day moving average price of $400.84.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share 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 for the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter in the previous year, the firm posted $4.48 earnings per share. Adobe's revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.