J. W. Coons Advisors LLC Sells 412 Shares of Adobe Inc. (NASDAQ:ADBE)

J. W. Coons Advisors LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 27.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,110 shares of the software company’s stock after selling 412 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Adobe were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Adobe by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock valued at $4,739,788,000 after purchasing an additional 151,286 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock worth $2,504,685,000 after buying an additional 821,293 shares during the period. Norges Bank bought a new stake in Adobe during the 4th quarter valued at $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company’s stock worth $2,375,345,000 after purchasing an additional 600,146 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock worth $2,363,125,000 after acquiring an additional 672,919 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $475.00 target price on shares of Adobe in a report on Friday, June 13th. Morgan Stanley dropped their price target on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird lifted their price target on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Oppenheimer dropped their target price on shares of Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, June 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $473.88.

Adobe Trading Up 1.4%

ADBE opened at $372.87 on Wednesday. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average of $394.20 and a 200-day moving average of $402.45. The stock has a market cap of $158.17 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.74 and a beta of 1.51.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating 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 period last year, the company earned $4.48 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.