Adobe Inc. (NASDAQ:ADBE) Shares Sold by Etesian Wealth Advisors Inc.

by · The Cerbat Gem

Etesian Wealth Advisors Inc. lessened its stake in Adobe Inc. (NASDAQ:ADBE – Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,174 shares of the software company’s stock after selling 61 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Adobe were worth $450,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. 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 buying an additional 39,888 shares during the period. SWAN Capital LLC acquired a new stake in shares of Adobe in the fourth quarter worth $28,000. Copia Wealth Management purchased a new position in shares of Adobe in the 4th quarter valued at $28,000. Summit Securities Group LLC acquired a new position in shares of Adobe during the 4th quarter valued at $31,000. Finally, Garde Capital Inc. acquired a new position in shares of Adobe during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $384.95 on Friday. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The firm has a market cap of $164.07 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.84 and a beta of 1.55. The stock has a 50 day moving average of $392.49 and a 200-day moving average of $412.76.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the business posted $4.48 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. UBS Group upped their target price on Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a research report on Monday, June 9th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Monday. JPMorgan Chase & Co. reduced their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup decreased their price target on Adobe from $465.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, June 16th. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $496.75.

Get Our Latest Stock Analysis on ADBE

Adobe Company Profile

(Free Report)

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.

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