Mar Vista Investment Partners LLC Has $27.47 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Mar Vista Investment Partners LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 19.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,619 shares of the software company's stock after selling 17,117 shares during the period. Adobe comprises 2.3% of Mar Vista Investment Partners LLC's investment portfolio, making the stock its 25th biggest holding. Mar Vista Investment Partners LLC's holdings in Adobe were worth $27,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Sepio Capital LP increased its position in Adobe by 2.3% during the fourth quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after acquiring an additional 22 shares during the period. Cadence Bank boosted its stake in shares of Adobe by 0.5% in the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC boosted its stake in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after purchasing an additional 22 shares in the last quarter. RB Capital Management LLC boosted its stake in shares of Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after purchasing an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC lifted its position in 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 buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of Adobe stock traded down $8.08 during trading on Friday, hitting $363.35. 3,545,215 shares of the company were exchanged, compared to its average volume of 3,454,388. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market capitalization of $154.13 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 1.76 and a beta of 1.51. The firm has a 50 day moving average price of $396.38 and a 200 day moving average price of $406.42.

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, beating the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.48 EPS. On average, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Mizuho lowered their price objective on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Jefferies Financial Group lowered their target price on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Citigroup lowered their target price on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Finally, Morgan Stanley decreased their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $480.08.

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.