Tobam Has $167,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Tobam trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 61.4% in the first quarter, Holdings Channel reports. The institutional investor owned 436 shares of the software company’s stock after selling 693 shares during the period. Tobam’s holdings in Adobe were worth $167,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sepio Capital LP lifted its stake in Adobe by 2.3% in the fourth quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after purchasing an additional 22 shares during the last quarter. Cadence Bank raised its holdings in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after buying an additional 22 shares during the period. Eagle Strategies LLC raised its holdings in shares of Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after buying an additional 22 shares during the period. RB Capital Management LLC lifted its stake in shares of Adobe by 0.4% during the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock worth $2,198,000 after acquiring an additional 22 shares during the last quarter. Finally, Orin Green Financial LLC boosted its holdings in Adobe by 3.8% during the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock valued at $276,000 after acquiring an additional 23 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group lifted 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. Citigroup raised their price target on shares of Adobe from $430.00 to $465.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird decreased their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. 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 research note on Friday. Finally, Bank of America raised their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $494.67.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $391.68 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company’s fifty day moving average price is $386.76 and its 200-day moving average price is $421.72. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The firm has a market capitalization of $166.93 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the business earned $4.48 EPS. On average, equities research 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.