Robeco Institutional Asset Management B.V. Sells 1,901 Shares of Adobe Inc. (NASDAQ:ADBE)

Robeco Institutional Asset Management B.V. lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 493,014 shares of the software company's stock after selling 1,901 shares during the period. Robeco Institutional Asset Management B.V. owned 0.12% of Adobe worth $189,086,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Garde Capital Inc. acquired a new position in Adobe during the first quarter worth $34,000. Arizona State Retirement System raised its holdings in Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock worth $56,784,000 after buying an additional 570 shares during the last quarter. Burling Wealth Partners LLC acquired a new position in Adobe during the fourth quarter worth $1,173,000. Sound Income Strategies LLC raised its holdings in Adobe by 17.6% during the first quarter. Sound Income Strategies LLC now owns 308 shares of the software company's stock worth $118,000 after buying an additional 46 shares during the last quarter. Finally, Horan Capital Advisors LLC. raised its holdings in Adobe by 2.4% during the fourth quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company's stock worth $2,162,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

ADBE traded up $0.88 on Friday, reaching $385.83. The company had a trading volume of 5,081,963 shares, compared to its average volume of 3,406,087. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. The business has a 50 day simple moving average of $392.49 and a 200 day simple moving average of $412.76. The company has a market cap of $163.67 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 1.82 and a beta of 1.55.

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, beating analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. During the same period last year, the business earned $4.48 earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADBE. Oppenheimer lowered their price objective on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Summit Redstone set a $410.00 price objective on shares of Adobe in a report on Wednesday, March 19th. KeyCorp upgraded shares of Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Wells Fargo & Company reiterated an "overweight" rating and issued a $470.00 target price (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $475.00 target price on shares of Adobe in a research note on Friday, June 13th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $496.75.

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.