Natural Investments LLC Has $680,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Natural Investments LLC significantly reduced its stake in Adobe Inc. by 76.5% during Q1, bringing its holdings down to 1,775 shares valued at $680,000.
• Several hedge funds, such as Legacy Capital Group and Twin City Private Wealth, increased their positions in Adobe during the same quarter, highlighting ongoing institutional interest in the company.
• Adobe's latest earnings report surpassed estimates, with $5.06 earnings per share and revenue of $5.87 billion, marking a 10.6% year-over-year increase.

Natural Investments LLC lessened its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 76.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,775 shares of the software company's stock after selling 5,781 shares during the period. Natural Investments LLC's holdings in Adobe were worth $680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Capital Group California Inc. raised its stake in shares of Adobe by 32.0% in the 1st quarter. Legacy Capital Group California Inc. now owns 3,255 shares of the software company's stock worth $1,248,000 after buying an additional 789 shares in the last quarter. Twin City Private Wealth LLC raised its stake in shares of Adobe by 12.8% in the 1st quarter. Twin City Private Wealth LLC now owns 2,164 shares of the software company's stock worth $830,000 after buying an additional 245 shares in the last quarter. Wealthspire Advisors LLC raised its stake in shares of Adobe by 1.9% in the 1st quarter. Wealthspire Advisors LLC now owns 3,879 shares of the software company's stock worth $1,488,000 after buying an additional 74 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Adobe by 9.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 841 shares of the software company's stock worth $323,000 after buying an additional 73 shares in the last quarter. Finally, Investment Counsel Co. of Nevada acquired a new position in shares of Adobe in the 1st quarter worth $461,000. Institutional investors own 81.79% of the company's stock.

Adobe Stock Down 2.1%

NASDAQ ADBE traded down $7.35 on Thursday, reaching $338.27. The stock had a trading volume of 4,658,591 shares, compared to its average volume of 3,370,717. The business has a 50 day moving average price of $380.02 and a 200 day moving average price of $396.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a market capitalization of $143.49 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 1.64 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating 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 firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $4.48 earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a report on Wednesday, July 2nd. Oppenheimer decreased their target price on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. JMP Securities restated a "market perform" rating on shares of Adobe in a report on Monday, June 23rd. Citigroup decreased 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. Finally, Bank of America lifted their target price on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $473.88.

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.