Raiffeisen Bank International AG Has $24.46 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Raiffeisen Bank International AG decreased its stake in Adobe Inc. by 2.2%, selling 1,403 shares and retaining a total of 63,410 shares valued at approximately $24.46 million.
• Other institutional investors have significantly increased their holdings in Adobe, with GAMMA Investing LLC raising its position by 46,806.6% to nearly 3 million shares valued at over $1.14 billion.
• Adobe's latest earnings report revealed a 10.6% year-over-year revenue increase, reporting earnings of $5.06 per share, surpassing the consensus estimate of $4.97.

Raiffeisen Bank International AG lowered its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,410 shares of the software company's stock after selling 1,403 shares during the period. Raiffeisen Bank International AG's holdings in Adobe were worth $24,458,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ADBE. Siemens Fonds Invest GmbH increased its stake in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying 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 first quarter worth $26,000. SWAN Capital LLC bought a new stake in shares of Adobe in the fourth quarter worth $28,000. Copia Wealth Management bought a new stake in shares of Adobe in the fourth quarter worth $28,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the first quarter worth $30,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Adobe stock traded down $8.95 during midday trading on Monday, hitting $338.85. The company's stock had a trading volume of 6,439,554 shares, compared to its average volume of 3,284,436. 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 stock's 50-day moving average price is $385.72 and its 200-day moving average price is $398.74. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a market capitalization of $143.74 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.65 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. During the same period in the previous year, the business earned $4.48 earnings per share. Adobe's revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. DA Davidson restated a "buy" rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, June 20th. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and decreased their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Citigroup decreased their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and an average target price of $473.88.

Adobe 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.