Marietta Investment Partners LLC trimmed its position in shares of Adobe Inc (NASDAQ:ADBE) by 1.0% during the first quarter, HoldingsChannel reports. The firm owned 15,415 shares of the software company’s stock after selling 160 shares during the quarter. Adobe makes up approximately 1.3% of Marietta Investment Partners LLC’s portfolio, making the stock its 28th biggest holding. Marietta Investment Partners LLC’s holdings in Adobe were worth $4,108,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ADBE. Buffington Mohr McNeal purchased a new position in Adobe during the first quarter valued at approximately $26,000. Liberty Wealth Management LLC purchased a new position in Adobe during the fourth quarter valued at approximately $30,000. Barnett & Company Inc. purchased a new position in Adobe during the fourth quarter valued at approximately $32,000. Nalls Sherbakoff Group LLC purchased a new position in Adobe during the fourth quarter valued at approximately $34,000. Finally, Canton Hathaway LLC purchased a new position in Adobe in the first quarter worth $35,000. Institutional investors own 85.89% of the company’s stock.

NASDAQ ADBE traded down $0.29 during trading hours on Wednesday, hitting $275.70. 21,011 shares of the company’s stock traded hands, compared to its average volume of 2,774,896. Adobe Inc has a 52-week low of $204.95 and a 52-week high of $291.70. The stock has a market cap of $134.65 billion, a PE ratio of 49.74, a P/E/G ratio of 2.72 and a beta of 1.11. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.25). Adobe had a net margin of 28.08% and a return on equity of 30.60%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the company posted $1.55 EPS. The firm’s revenue was up 24.1% on a year-over-year basis. On average, sell-side analysts forecast that Adobe Inc will post 6.24 EPS for the current fiscal year.

In other news, Director John E. Warnock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $260.47, for a total value of $520,940.00. Following the completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $4,190,441.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John E. Warnock sold 1,177 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $269.47, for a total transaction of $317,166.19. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $4,335,233.36. The disclosure for this sale can be found here. In the last three months, insiders sold 56,936 shares of company stock valued at $15,516,808. Corporate insiders own 0.32% of the company’s stock.

Several research firms have issued reports on ADBE. Robert W. Baird lifted their price target on shares of Adobe from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Zacks Investment Research lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Morgan Stanley raised shares of Adobe from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $282.00 to $340.00 in a report on Monday, April 29th. BidaskClub lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Cowen lowered shares of Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 price objective on the stock. in a report on Friday, February 15th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $290.46.

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About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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