GAM Holding AG Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

GAM Holding AG raised its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,585 shares of the software company's stock after acquiring an additional 3,168 shares during the quarter. GAM Holding AG's holdings in Adobe were worth $7,895,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sepio Capital LP boosted its stake in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after purchasing an additional 22 shares during the period. Cadence Bank boosted its stake in Adobe by 0.5% in the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after purchasing an additional 22 shares during the period. Eagle Strategies LLC boosted its stake in Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after purchasing an additional 22 shares during the period. RB Capital Management LLC boosted its stake in Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after purchasing an additional 22 shares during the period. Finally, Orin Green Financial LLC boosted its stake in Adobe by 3.8% in the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ADBE shares. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Oppenheimer cut their target price on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. JPMorgan Chase & Co. cut their target price on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Piper Sandler cut their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, DA Davidson reiterated a "buy" rating and set a $500.00 target price on shares of Adobe in a research report on Friday. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and a consensus price target of $496.75.

Adobe Stock Down 0.3%

Shares of NASDAQ:ADBE traded down $1.12 during trading on Friday, hitting $376.92. The stock had a trading volume of 8,089,833 shares, compared to its average volume of 3,392,807. Adobe Inc. has a 12 month low of $332.01 and a 12 month 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. The company has a market capitalization of $160.64 billion, a PE ratio of 24.12, a PEG ratio of 1.79 and a beta of 1.55. The firm's fifty day moving average is $389.67 and its 200 day moving average is $416.35.

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.