Y.D. More Investments Ltd Sells 1,595 Shares of Adobe Inc. (NASDAQ:ADBE)

Key Points

• Y.D. More Investments Ltd reduced its holdings in Adobe Inc. by 33.8%, selling 1,595 shares and holding only 3,123 shares worth approximately $1.2 million.
• Adobe's earnings for the latest quarter surpassed analyst expectations, with a reported EPS of $5.06 compared to estimates of $4.97 and a revenue of $5.87 billion.
• Recent analyst ratings for Adobe show a mix of outlooks, with an average target price of $473.88, indicating a favorable perception among multiple analysts despite some downgrades on price targets.

Y.D. More Investments Ltd decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 33.8% 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 3,123 shares of the software company's stock after selling 1,595 shares during the quarter. Y.D. More Investments Ltd's holdings in Adobe were worth $1,198,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in ADBE. Copia Wealth Management purchased a new stake in Adobe during the fourth quarter valued at about $28,000. SWAN Capital LLC purchased a new stake in Adobe during the fourth quarter valued at about $28,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe during the first quarter valued at about $26,000. HHM Wealth Advisors LLC purchased a new stake in Adobe during the first quarter valued at about $30,000. Finally, Bernard Wealth Management Corp. purchased a new stake in Adobe during the fourth quarter valued at about $36,000. Institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of ADBE stock traded up $2.78 during trading hours on Friday, hitting $341.05. 3,506,570 shares of the company's stock were exchanged, compared to its average volume of 3,402,612. The company has a market capitalization of $144.67 billion, a PE ratio of 21.82, a PEG ratio of 1.60 and a beta of 1.51. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The business's 50 day simple moving average is $378.55 and its 200-day simple moving average is $396.05. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

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

Analysts Set New Price Targets

Several equities research analysts have commented on ADBE shares. Citigroup dropped their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and cut their price objective for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Piper Sandler cut their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus cut their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $473.88.

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.