CWA Asset Management Group LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 36.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,598 shares of the software company's stock after acquiring an additional 689 shares during the quarter. CWA Asset Management Group LLC's holdings in Adobe were worth $996,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Arizona State Retirement System increased its stake in shares of Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock valued at $56,784,000 after buying an additional 570 shares in the last quarter. Burling Wealth Partners LLC acquired a new position in Adobe during the 4th quarter worth about $1,173,000. Sound Income Strategies LLC grew its holdings in Adobe by 17.6% during the 1st quarter. Sound Income Strategies LLC now owns 308 shares of the software company's stock worth $118,000 after acquiring an additional 46 shares during the last quarter. Horan Capital Advisors LLC. raised its stake in shares of Adobe by 2.4% in the fourth quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company's stock worth $2,162,000 after acquiring an additional 114 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Adobe by 85.8% during the fourth quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock worth $1,043,000 after purchasing an additional 1,083 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ADBE has been the subject of a number of research reports. DA Davidson lowered their price target on shares of Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a report on Monday, April 14th. Citigroup dropped their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday. Bank of America raised their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. JPMorgan Chase & Co. dropped their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Oppenheimer cut their target price on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $494.67.
View Our Latest Stock Report on Adobe
Adobe Trading Down 1.2%
NASDAQ ADBE opened at $378.04 on Friday. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. The stock's 50 day moving average price is $389.19 and its two-hundred day moving average price is $418.14. The stock has a market capitalization of $161.12 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.79 and a beta of 1.55.
Adobe Profile
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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.
Further Reading
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