Adobe Inc. (NASDAQ:ADBE) Stock Holdings Trimmed by Yarbrough Capital LLC

Yarbrough Capital LLC reduced its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,395 shares of the software company's stock after selling 5,326 shares during the quarter. Yarbrough Capital LLC's holdings in Adobe were worth $8,206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH boosted its holdings in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after buying an additional 39,888 shares in the last quarter. SWAN Capital LLC purchased a new stake in shares of Adobe in the 4th quarter worth about $28,000. Copia Wealth Management purchased a new position in shares of Adobe during the 4th quarter worth approximately $28,000. Summit Securities Group LLC acquired a new stake in Adobe during the 4th quarter valued at $31,000. Finally, Bernard Wealth Management Corp. purchased a new position in Adobe during the fourth quarter worth $36,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADBE. Morgan Stanley lowered their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada reissued an "outperform" rating and set a $480.00 price target on shares of Adobe in a research note on Thursday. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus reduced their target price on Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $504.81.

Adobe Stock Down 0.2%

Adobe stock traded down $0.66 during midday trading on Monday, hitting $416.26. 3,032,627 shares of the company were exchanged, compared to its average volume of 3,407,987. The company has a market cap of $177.41 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The company's fifty day moving average price is $381.41 and its 200-day moving average price is $424.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same period in the previous year, the company posted $4.48 earnings per share. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the business's stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

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.