Adobe Inc. (NASDAQ:ADBE) Shares Sold by Trivium Point Advisory LLC

Trivium Point Advisory LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,349 shares of the software company’s stock after selling 265 shares during the quarter. Trivium Point Advisory LLC’s holdings in Adobe were worth $5,503,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Siemens Fonds Invest GmbH increased its position in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after purchasing an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the 1st quarter valued at $26,000. SWAN Capital LLC purchased a new stake in Adobe in the 4th quarter valued at $28,000. Copia Wealth Management purchased a new stake in Adobe in the 4th quarter valued at $28,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Adobe in the 1st quarter valued at $30,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADBE. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a report on Monday. Robert W. Baird upped their price target on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, June 20th. Stifel Nicolaus decreased their price target on Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research note on Friday, June 13th. Finally, Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $467.58.

Adobe Trading Up 3.7%

ADBE opened at $351.07 on Thursday. Adobe Inc. has a one year low of $330.04 and a one year high of $587.75. The company has a market cap of $148.92 billion, a P/E ratio of 22.46, a PEG ratio of 1.60 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50-day simple moving average is $374.41 and its 200-day simple moving average is $394.07.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating 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 business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the business posted $4.48 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.