Qtron Investments LLC Decreases Stock Position in Adobe Inc. $ADBE

Key Points

• Qtron Investments LLC reduced its stake in Adobe Inc. by 23.3%, now holding 4,469 shares valued at approximately $1.71 million after selling 1,361 shares.
• Several institutional investors have increased their positions in Adobe, with First Trust Advisors LP notably boosting its stake by 15.4%, bringing its total shares to 437,408.
• Adobe reported earnings of $5.06 per share for the quarter, exceeding estimates, and had revenue growth of 10.6% year-over-year, totaling $5.87 billion.

Qtron Investments LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 23.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,469 shares of the software company's stock after selling 1,361 shares during the quarter. Qtron Investments LLC's holdings in Adobe were worth $1,714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Brighton Jones LLC boosted its holdings in Adobe by 2.1% in 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 boosted its stake in shares of Adobe by 2.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after buying an additional 756 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Adobe by 15.4% during the 4th quarter. First Trust Advisors LP now owns 437,408 shares of the software company's stock valued at $194,507,000 after buying an additional 58,218 shares during the last quarter. Capital World Investors boosted its stake in shares of Adobe by 3.1% during the 4th quarter. Capital World Investors now owns 458,495 shares of the software company's stock valued at $203,884,000 after buying an additional 13,755 shares during the last quarter. Finally, MYDA Advisors LLC purchased a new position in shares of Adobe during the 4th quarter valued at approximately $489,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Royal Bank Of Canada reiterated an "outperform" rating and set a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Redburn Atlantic cut Adobe from a "hold" rating to a "strong sell" rating and reduced their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Robert W. Baird increased their target price on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $467.58.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $354.85 on Monday. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $587.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The business's fifty day moving average price is $371.84 and its two-hundred day moving average price is $392.13. The firm has a market capitalization of $150.53 billion, a PE ratio of 22.70, a P/E/G ratio of 1.68 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 earnings per share for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $4.48 earnings per share. On average, research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.

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