Grandfield & Dodd LLC Sells 95 Shares of Adobe Inc. (NASDAQ:ADBE)

Grandfield & Dodd LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,539 shares of the software company’s stock after selling 95 shares during the quarter. Grandfield & Dodd LLC’s holdings in Adobe were worth $2,891,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Copia Wealth Management purchased a new stake in Adobe in the 4th quarter valued at about $28,000. SWAN Capital LLC purchased a new stake in Adobe in the 4th quarter valued at about $28,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the 1st quarter valued at about $26,000. Summit Securities Group LLC purchased a new stake in Adobe in the 4th quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. purchased a new stake in Adobe in the 4th quarter valued at about $36,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the subject of several analyst reports. Summit Redstone set a $410.00 price objective on shares of Adobe in a research note on Wednesday, March 19th. Stifel Nicolaus decreased their price objective on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, June 13th. BMO Capital Markets reiterated an “outperform” rating and issued a $450.00 price objective on shares of Adobe in a research note on Friday, June 13th. Robert W. Baird increased their price objective on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Finally, UBS Group raised their price target on shares of Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $473.88.

Adobe Stock Down 0.8%

ADBE opened at $364.18 on Wednesday. The company has a 50 day moving average of $395.36 and a 200 day moving average of $404.39. The company has a market cap of $154.49 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.74 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 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) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. The firm had revenue of $5.87 billion during 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 period last year, the firm earned $4.48 EPS. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

About Adobe

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.