NORTHSTAR ASSET MANAGEMENT Co LLC Has $3.75 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

NORTHSTAR ASSET MANAGEMENT Co LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,765 shares of the software company's stock after selling 735 shares during the period. Adobe accounts for 0.9% of NORTHSTAR ASSET MANAGEMENT Co LLC's portfolio, making the stock its 28th largest holding. NORTHSTAR ASSET MANAGEMENT Co LLC's holdings in Adobe were worth $3,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. bought a new stake in shares of Adobe in the first quarter worth about $34,000. Krane Funds Advisors LLC increased its stake in Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after purchasing an additional 730 shares in the last quarter. Burling Wealth Partners LLC bought a new stake in shares of Adobe during the fourth quarter worth $1,173,000. Summit Trail Advisors LLC increased its position in shares of Adobe by 36.2% during the first quarter. Summit Trail Advisors LLC now owns 9,719 shares of the software company's stock worth $3,728,000 after acquiring an additional 2,583 shares in the last quarter. Finally, Fiduciary Group LLC increased its position in shares of Adobe by 19.9% during the first quarter. Fiduciary Group LLC now owns 6,168 shares of the software company's stock worth $2,366,000 after acquiring an additional 1,022 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

Shares of ADBE traded down $2.38 during trading hours on Monday, hitting $376.93. 3,542,960 shares of the company were exchanged, compared to its average volume of 3,433,287. The company has a market cap of $159.89 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 1.80 and a beta of 1.51. 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 firm's fifty day moving average is $396.09 and its 200 day moving average is $407.83.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly 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. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $4.48 earnings per share. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research reports. Bank of America increased 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. JPMorgan Chase & Co. decreased their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $480.00 price target on shares of Adobe in a research note on Thursday, June 5th. KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Finally, Mizuho decreased their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Adobe has an average 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.