Goldstein Advisors LLC Has $530,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Goldstein Advisors LLC lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,383 shares of the software company’s stock after selling 70 shares during the period. Goldstein Advisors LLC’s holdings in Adobe were worth $530,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Siemens Fonds Invest GmbH increased its holdings 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 valued at $25,000 after acquiring an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new stake in shares of Adobe during the fourth quarter valued at approximately $28,000. Copia Wealth Management bought a new stake in shares of Adobe during the fourth quarter valued at approximately $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the fourth quarter valued at approximately $31,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 1.4%

ADBE stock opened at $387.55 on Thursday. The stock’s fifty day simple moving average is $391.76 and its two-hundred day simple moving average is $413.89. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The stock has a market cap of $165.17 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.81 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the firm earned $4.48 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the subject of several recent research reports. DA Davidson restated a “buy” rating and set a $500.00 price objective on shares of Adobe in a report on Friday, June 20th. Mizuho decreased their price objective on Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a report on Friday, June 13th. Oppenheimer decreased their price objective on Adobe from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Friday, June 13th. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Finally, Evercore ISI reiterated an “outperform” rating and set a $475.00 price target on shares of Adobe in a report on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $496.75.

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.