Adobe Inc. $ADBE Shares Sold by Qtron Investments LLC

by · The Cerbat Gem

Qtron Investments LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 23.3% during the first quarter, Holdings Channel.com reports. The firm owned 4,469 shares of the software company’s stock after selling 1,361 shares during the quarter. Qtron Investments LLC’s holdings in Adobe were worth $1,714,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ADBE. Vanguard Group Inc. boosted its stake in Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after buying an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Adobe by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after buying an additional 821,293 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Adobe by 12.7% during the fourth 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 valued at $2,375,345,000 after buying an additional 600,146 shares in the last quarter. Northern Trust Corp boosted its stake in Adobe by 14.5% during the fourth quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock valued at $2,363,125,000 after buying an additional 672,919 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Up 1.8%

Shares of Adobe stock opened at $354.85 on Monday. The stock has a 50-day moving average price of $371.84 and a 200 day moving average price of $392.13. The company has a market cap of $150.53 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.68 and a beta of 1.51. 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 Inc. has a 1 year low of $330.04 and a 1 year high of $587.75.

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

Wall Street Analysts Forecast Growth

ADBE has been the subject of several research reports. DA Davidson reaffirmed a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, June 20th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and decreased their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Piper Sandler decreased their price target on Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $480.00 price target on shares of Adobe in a research report on Thursday, June 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $467.58.

View Our Latest Stock Analysis on Adobe

Adobe 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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