Unigestion Holding SA cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 79.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,798 shares of the software company's stock after selling 18,706 shares during the period. Unigestion Holding SA's holdings in Adobe were worth $1,840,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of ADBE. Arizona State Retirement System boosted its position in Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock valued at $56,784,000 after purchasing an additional 570 shares in the last quarter. Burling Wealth Partners LLC bought a new stake in shares of Adobe in the 4th quarter valued at about $1,173,000. Silicon Valley Capital Partners boosted its holdings in shares of Adobe by 4.1% in the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company's stock valued at $2,656,000 after buying an additional 236 shares in the last quarter. Horan Capital Advisors LLC. raised its stake in shares of Adobe by 2.4% during the 4th quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company's stock worth $2,162,000 after acquiring an additional 114 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Adobe by 85.8% during the fourth quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock valued at $1,043,000 after acquiring an additional 1,083 shares during the last quarter. Institutional investors own 81.79% of the company's stock.
Adobe Stock Up 0.3%
Shares of NASDAQ:ADBE traded up $1.29 on Thursday, hitting $415.20. 2,272,597 shares of the company's stock were exchanged, compared to its average volume of 3,410,301. 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 $176.96 billion, a PE ratio of 33.48, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm's 50-day moving average is $380.10 and its 200 day moving average is $426.39.
Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter last year, the business earned $4.48 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on ADBE. Mizuho lowered their price target on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reissued an "outperform" rating and set a $480.00 price objective on shares of Adobe in a report on Thursday. Redburn Atlantic assumed coverage on Adobe in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Evercore ISI reduced their price objective on Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Finally, Robert W. Baird lowered their target price on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and a consensus price target of $502.88.
Get Our Latest Report on ADBE
Insider Transactions at Adobe
In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.
Adobe Company Profile
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Free Report)
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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