Mirador Capital Partners LP Trims Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Mirador Capital Partners LP lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 72.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 772 shares of the software company’s stock after selling 1,990 shares during the period. Mirador Capital Partners LP’s holdings in Adobe were worth $296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH boosted its holdings in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after purchasing an additional 39,888 shares during the last quarter. SWAN Capital LLC bought a new position in Adobe during the 4th quarter worth approximately $28,000. Copia Wealth Management bought a new position in Adobe during the 4th quarter worth approximately $28,000. Summit Securities Group LLC bought a new position in Adobe during the 4th quarter worth approximately $31,000. Finally, Caitlin John LLC lifted its holdings in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.3%

ADBE opened at $414.76 on Monday. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. 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 stock has a market cap of $176.77 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.15 and a beta of 1.55. The stock’s 50 day moving average price is $379.10 and its 200 day moving average price is $427.27.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the firm earned $4.48 EPS. As a group, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on ADBE. Robert W. Baird reduced their target price on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Mizuho reduced their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company reduced their target price on Adobe from $600.00 to $430.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus reduced their target price on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Eleven 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. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $502.88.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

About Adobe

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.