Vontobel Holding Ltd. Cuts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Vontobel Holding Ltd. decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,072,530 shares of the software company's stock after selling 202,755 shares during the quarter. Adobe makes up 1.5% of Vontobel Holding Ltd.'s investment portfolio, making the stock its 19th biggest holding. Vontobel Holding Ltd. owned approximately 0.25% of Adobe worth $411,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Sepio Capital LP raised its stake in shares of Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after acquiring an additional 22 shares in the last quarter. Cadence Bank boosted its stake in Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after acquiring an additional 22 shares in the last quarter. Eagle Strategies LLC grew its holdings in Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares during the last quarter. RB Capital Management LLC increased its position in shares of Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after purchasing an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC increased its position in shares of Adobe by 3.8% during the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Trading Up 0.3%

ADBE stock traded up $1.09 during mid-day trading on Thursday, hitting $379.56. 2,857,560 shares of the company were exchanged, compared to its average volume of 3,423,288. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The firm has a market capitalization of $161.01 billion, a P/E ratio of 24.29, a PEG ratio of 1.86 and a beta of 1.51. The business has a fifty day simple moving average of $395.48 and a 200-day simple moving average of $409.36. 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 (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping 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 firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter last year, the company posted $4.48 EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ADBE shares. Robert W. Baird boosted their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Summit Redstone set a $410.00 price objective on shares of Adobe in a research report on Wednesday, March 19th. Piper Sandler decreased their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. DA Davidson reiterated a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Finally, Phillip Securities upgraded 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, eight have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and a consensus price target of $480.08.

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.