Dohj LLC Purchases 1,091 Shares of Adobe Inc. (NASDAQ:ADBE)

Dohj LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,396 shares of the software company's stock after acquiring an additional 1,091 shares during the quarter. Dohj LLC's holdings in Adobe were worth $2,837,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Siemens Fonds Invest GmbH grew its position in shares of Adobe by 252.9% during the 4th 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 during the period. SWAN Capital LLC bought a new stake in Adobe during the 4th quarter worth approximately $28,000. Copia Wealth Management purchased a new stake in shares of Adobe in the fourth quarter worth $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the 4th quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Adobe in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and set a $480.00 price objective on shares of Adobe in a report on Thursday, June 5th. Redburn Atlantic assumed coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Jefferies Financial Group dropped their target price 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. Summit Redstone set a $410.00 price target on Adobe in a research note on Wednesday, March 19th. Finally, KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and an average price target of $495.29.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction 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 trade represents a 4.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company's stock.

Adobe Price Performance

Shares of ADBE traded up $3.74 during trading hours on Monday, reaching $395.42. 2,458,620 shares of the stock traded hands, compared to its average volume of 3,378,435. The company has a market cap of $168.53 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company's 50-day moving average price is $386.76 and its two-hundred day moving average price is $420.43. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75.

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.