Universal Beteiligungs und Servicegesellschaft mbH Lowers Stock Position in Adobe Inc. (NASDAQ:ADBE)

Universal Beteiligungs und Servicegesellschaft mbH trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 702,151 shares of the software company's stock after selling 120,350 shares during the period. Adobe accounts for about 0.5% of Universal Beteiligungs und Servicegesellschaft mbH's holdings, making the stock its 24th largest holding. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.16% of Adobe worth $269,296,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ADBE. Brighton Jones LLC lifted its holdings in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Adobe by 2.7% in 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 acquiring an additional 756 shares during the period. GHE LLC boosted its stake in Adobe by 2.9% during the 4th quarter. GHE LLC now owns 23,577 shares of the software company's stock worth $10,484,000 after purchasing an additional 670 shares during the period. Millstone Evans Group LLC purchased a new position in Adobe during the 4th quarter worth $48,000. Finally, LPL Financial LLC increased its stake in Adobe by 4.2% in the fourth quarter. LPL Financial LLC now owns 444,953 shares of the software company's stock valued at $197,766,000 after purchasing an additional 18,070 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler cut their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. UBS Group increased their target price on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research note on Monday, June 9th. Evercore ISI reaffirmed an "outperform" rating and set a $475.00 price objective on shares of Adobe in a report on Friday, June 13th. Citigroup reduced their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Finally, Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $473.88.

Adobe Price Performance

Shares of Adobe stock traded down $0.68 during trading on Thursday, hitting $371.78. 1,937,685 shares of the company were exchanged, compared to its average volume of 3,778,407. The stock has a market capitalization of $157.71 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 1.77 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 has a 50 day moving average price of $392.60 and a 200 day moving average price of $401.60.

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

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.