Clarius Group LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 28.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,932 shares of the software company's stock after purchasing an additional 866 shares during the period. Clarius Group LLC's holdings in Adobe were worth $1,508,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in 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 buying an additional 151,286 shares during 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 increased its holdings 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 increased its holdings 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 increased its holdings 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 institutional investors and hedge funds.
Adobe Stock Performance
Shares of Adobe stock traded down $4.64 during trading on Thursday, reaching $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 business's 50-day moving average price is $388.63 and its 200-day moving average price is $419.09. The firm has a market cap of $161.12 billion, a PE ratio of 24.19, a P/E/G ratio of 1.79 and a beta of 1.55. Adobe Inc. has a 52 week low of $332.01 and a 52 week 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.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. BMO Capital Markets restated an "outperform" rating and set a $450.00 target price on shares of Adobe in a report on Friday, June 13th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. DA Davidson decreased their price objective on shares of Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho decreased their price objective on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Finally, Citigroup decreased their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday. Nine investment 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. According to data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and an average target price of $494.67.
View Our Latest Stock Report on ADBE
Adobe Company Profile
(
Free Report)
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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