Adobe Inc. (NASDAQ:ADBE) Holdings Decreased by L.M. Kohn & Company

L.M. Kohn & Company lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 27.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,579 shares of the software company's stock after selling 954 shares during the quarter. L.M. Kohn & Company's holdings in Adobe were worth $989,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised 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 worth $3,588,000 after buying an additional 167 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Adobe during the fourth quarter worth about $76,712,000. Bank Pictet & Cie Europe AG grew its holdings in Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after acquiring an additional 756 shares during the period. Atlas Legacy Advisors LLC bought a new stake in Adobe in the fourth quarter worth about $244,000. Finally, Private Advisor Group LLC lifted its holdings in Adobe by 4.4% in the 4th quarter. Private Advisor Group LLC now owns 25,475 shares of the software company's stock valued at $11,328,000 after acquiring an additional 1,082 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

ADBE has been the subject of several research reports. Summit Redstone set a $410.00 price objective on shares of Adobe in a research report on Wednesday, March 19th. Bank of America boosted their target price on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Jefferies Financial Group reduced their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Citigroup reduced their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday. Finally, DA Davidson decreased their target price on shares of Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and an average price target of $494.67.

Adobe Stock Performance

NASDAQ ADBE opened at $378.04 on Friday. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market cap of $161.12 billion, a P/E ratio of 24.19, a PEG ratio of 1.79 and a beta of 1.55. The company's 50-day simple moving average is $389.19 and its 200 day simple moving average is $418.14.

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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