Mutual of America Capital Management LLC Sells 1,017 Shares of Adobe Inc. (NASDAQ:ADBE)

Mutual of America Capital Management LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,390 shares of the software company's stock after selling 1,017 shares during the quarter. Mutual of America Capital Management LLC's holdings in Adobe were worth $22,011,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Siemens Fonds Invest GmbH increased its position in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the 1st quarter valued at approximately $26,000. SWAN Capital LLC acquired a new position in Adobe in the fourth quarter worth approximately $28,000. Copia Wealth Management bought a new position in Adobe during the fourth quarter valued at approximately $28,000. Finally, Garde Capital Inc. acquired a new stake in Adobe in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Trading Up 0.8%

Adobe stock traded up $2.78 during mid-day trading on Friday, hitting $341.05. 3,506,570 shares of the company's stock were exchanged, compared to its average volume of 3,795,387. The company's 50 day simple moving average is $380.02 and its 200-day simple moving average is $396.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $144.67 billion, a P/E ratio of 21.82, a PEG ratio of 1.64 and a beta of 1.51. 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 released its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the firm posted $4.48 earnings per share. Adobe's revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ADBE shares. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Mizuho decreased their price target on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Royal Bank Of Canada restated an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Oppenheimer cut their price target 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. Finally, Bank of America upped their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Adobe currently has a consensus 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.