Pinion Investment Advisors LLC Sells 64 Shares of Adobe Inc. (NASDAQ:ADBE)

Pinion Investment Advisors LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,346 shares of the software company’s stock after selling 64 shares during the period. Pinion Investment Advisors LLC’s holdings in Adobe were worth $516,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Adobe in the 4th quarter valued at about $76,712,000. Root Financial Partners LLC lifted its stake in shares of Adobe by 40.9% in the 4th quarter. Root Financial Partners LLC now owns 603 shares of the software company’s stock valued at $268,000 after purchasing an additional 175 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Adobe by 7.1% in the 4th quarter. Valeo Financial Advisors LLC now owns 7,919 shares of the software company’s stock valued at $3,521,000 after purchasing an additional 523 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its stake in shares of Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock valued at $12,882,000 after purchasing an additional 756 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $391.68 on Friday. The company has a market capitalization of $166.93 billion, a PE ratio of 31.59, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day simple moving average of $386.76 and a two-hundred day simple moving average of $421.08. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the firm earned $4.48 earnings per share. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of research reports. Robert W. Baird dropped their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Citigroup upped their price target on Adobe from $430.00 to $465.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 10th. Stifel Nicolaus dropped 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. Evercore ISI reaffirmed an “outperform” rating and set a $475.00 price target on shares of Adobe in a research note on Friday. Finally, Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $494.67.

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.