Adobe (NASDAQ:ADBE) Trading Down 1.2% - Should You Sell?

Adobe Inc. (NASDAQ:ADBE - Get Free Report) shares traded down 1.2% on Thursday . The stock traded as low as $377.54 and last traded at $378.04. 4,800,560 shares were traded during trading, an increase of 41% from the average session volume of 3,396,194 shares. The stock had previously closed at $382.68.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Jefferies Financial Group lowered their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday. Summit Redstone set a $410.00 price target on Adobe in a research report on Wednesday, March 19th. UBS Group boosted their price objective on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $494.67.

Adobe Trading Down 1.2%

The stock has a market cap of $161.12 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.81 and a beta of 1.55. The business's 50 day moving average is $388.63 and its 200 day moving average is $419.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ADBE. 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 in the last quarter. 1248 Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at $26,000. SWAN Capital LLC acquired a new stake in Adobe during the 4th quarter worth $28,000. Finally, Copia Wealth Management purchased a new stake in Adobe in the fourth quarter valued at $28,000. 81.79% of the stock is owned by institutional investors and hedge funds.

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.

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