Marathon Asset Management Ltd Sells 8,687 Shares of Adobe Inc. (NASDAQ:ADBE)

Marathon Asset Management Ltd trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,306 shares of the software company's stock after selling 8,687 shares during the quarter. Marathon Asset Management Ltd's holdings in Adobe were worth $33,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Siemens Fonds Invest GmbH raised its stake in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new position in shares of Adobe in the 4th quarter valued at approximately $28,000. Copia Wealth Management bought a new position in shares of Adobe in the 4th quarter valued at approximately $28,000. Summit Securities Group LLC acquired a new stake in Adobe in the 4th quarter valued at approximately $31,000. Finally, Garde Capital Inc. acquired a new stake in Adobe in the 1st quarter valued at approximately $34,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

ADBE stock traded up $0.88 during trading on Friday, hitting $385.83. The company had a trading volume of 5,081,963 shares, compared to its average volume of 3,399,346. The company has a fifty day moving average price of $393.23 and a two-hundred day moving average price of $410.69. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a market cap of $163.67 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.83 and a beta of 1.55. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.

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 (EPS) for the quarter, beating 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 firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $4.48 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler lowered their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird raised their target price on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Citigroup lowered their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 target price on shares of Adobe in a report on Friday, June 13th. Finally, Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $496.75.

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.