Adobe Inc. (NASDAQ:ADBE) Shares Sold by Rosenberg Matthew Hamilton

Rosenberg Matthew Hamilton lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 11.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259 shares of the software company’s stock after selling 35 shares during the period. Rosenberg Matthew Hamilton’s holdings in Adobe were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Siemens Fonds Invest GmbH raised its holdings in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after acquiring an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe in the 1st quarter valued at approximately $26,000. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter valued at $28,000. Copia Wealth Management purchased a new stake in shares of Adobe during the 4th quarter worth $28,000. Finally, Summit Securities Group LLC acquired a new position in shares of Adobe during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $379.56 on Friday. The stock has a market capitalization of $161.01 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.79 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company’s fifty day moving average is $395.85 and its two-hundred day moving average is $408.79.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.48 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $450.00 price target on shares of Adobe in a report on Friday, June 13th. Evercore ISI reissued an “outperform” rating and set a $475.00 price objective on shares of Adobe in a report on Friday, June 13th. UBS Group boosted their price objective on shares of Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a research report on Monday, June 9th. Finally, Bank of America increased their target price on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $480.08.

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.