Montag A & Associates Inc. Sells 2,136 Shares of Adobe Inc. (NASDAQ:ADBE)

Montag A & Associates Inc. decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,834 shares of the software company's stock after selling 2,136 shares during the period. Montag A & Associates Inc.'s holdings in Adobe were worth $12,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after acquiring an additional 167 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after acquiring an additional 756 shares in the last quarter. GHE LLC increased its holdings in shares of Adobe by 2.9% in the fourth 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 period. Proficio Capital Partners LLC increased its stake in Adobe by 85.8% in the fourth quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock valued at $1,043,000 after acquiring an additional 1,083 shares during the last quarter. Finally, Magnetar Financial LLC increased its stake in Adobe by 29.5% in the fourth quarter. Magnetar Financial LLC now owns 729 shares of the software company's stock valued at $324,000 after acquiring an additional 166 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $365.79 on Friday. 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 cap of $155.17 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.73 and a beta of 1.51. The firm's fifty day moving average is $394.20 and its two-hundred day moving average is $402.72. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75.

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, topping analysts' consensus estimates of $4.97 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $4.48 EPS. As a group, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a report on Wednesday, July 2nd. Robert W. Baird raised their target price on shares of Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Stifel Nicolaus decreased their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Evercore ISI reaffirmed an "outperform" rating and set a $475.00 target price on shares of Adobe in a research note on Friday, June 13th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 target price (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and an average target price 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.

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