Bender Robert & Associates Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Bender Robert & Associates grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,229 shares of the software company's stock after acquiring an additional 1,532 shares during the quarter. Adobe comprises about 2.3% of Bender Robert & Associates' portfolio, making the stock its 13th biggest position. Bender Robert & Associates' holdings in Adobe were worth $9,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Copia Wealth Management acquired a new stake in shares of Adobe in the 4th quarter worth $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter worth $28,000. Summit Securities Group LLC acquired a new stake in shares of Adobe in the 4th quarter worth $31,000. Bernard Wealth Management Corp. acquired a new stake in shares of Adobe in the 4th quarter worth $36,000. Finally, Mascoma Wealth Management LLC boosted its position in shares of Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after purchasing an additional 50 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of Adobe stock traded down $4.64 on Thursday, hitting $378.04. The company's stock had a trading volume of 4,800,560 shares, compared to its average volume of 3,396,194. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The firm has a fifty day moving average price of $388.63 and a 200-day moving average price of $419.09. The company has a market capitalization of $161.12 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.79 and a beta of 1.55.

Analyst Ratings Changes

A number of brokerages have commented on ADBE. Oppenheimer lowered their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. DA Davidson lowered their price target on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Finally, Stifel Nicolaus decreased their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $494.67.

Adobe Company 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.