Adobe Inc. (NASDAQ:ADBE) Holdings Lessened by Sander Capital Advisors Inc.

Sander Capital Advisors Inc. decreased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,013 shares of the software company's stock after selling 2,891 shares during the quarter. Adobe makes up 1.8% of Sander Capital Advisors Inc.'s holdings, making the stock its 9th biggest position. Sander Capital Advisors Inc.'s holdings in Adobe were worth $3,457,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ADBE shares. Morgan Stanley dropped their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI reiterated an "outperform" rating and issued a $475.00 target price on shares of Adobe in a research report on Friday, June 13th. Bank of America boosted their price target on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. DA Davidson lowered their price target on shares of Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Summit Redstone set a $410.00 price target on shares of Adobe in a research report on Wednesday, March 19th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $494.67.

Adobe Trading Down 1.2%

NASDAQ:ADBE traded down $4.64 on Thursday, hitting $378.04. The stock had a trading volume of 4,800,560 shares, compared to its average volume of 3,396,194. 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 price-to-earnings ratio of 24.19, a PEG ratio of 1.79 and a beta of 1.55. The company has a fifty day moving average price of $389.19 and a two-hundred day moving average price of $418.14. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

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.