Boston Trust Walden Corp Cuts Holdings in Adobe Inc. (NASDAQ:ADBE)

Boston Trust Walden Corp trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,218 shares of the software company's stock after selling 23,411 shares during the quarter. Boston Trust Walden Corp's holdings in Adobe were worth $39,587,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Adobe by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock worth $4,739,788,000 after purchasing an additional 151,286 shares in the last quarter. Norges Bank acquired a new position in Adobe during the fourth quarter worth $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Adobe by 12.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock worth $2,375,345,000 after buying an additional 600,146 shares during the last quarter. Northern Trust Corp boosted its stake in Adobe by 14.5% during the fourth quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock worth $2,363,125,000 after buying an additional 672,919 shares during the last quarter. Finally, Edgewood Management LLC boosted its stake in Adobe by 20.7% during the fourth quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock worth $1,805,009,000 after buying an additional 696,172 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Down 0.3%

ADBE traded down $1.12 during mid-day trading on Friday, hitting $376.92. 8,089,833 shares of the stock were exchanged, compared to its average volume of 3,405,692. The firm's fifty day moving average is $389.67 and its two-hundred day moving average is $417.18. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The company has a market cap of $160.64 billion, a PE ratio of 24.12, a PEG ratio of 1.79 and a beta of 1.55.

Analyst Ratings Changes

A number of equities analysts have weighed in on ADBE shares. Citigroup lowered their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Mizuho lowered their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Morgan Stanley lowered their price objective on Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 price objective 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $496.75.

Adobe 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.