Global X Japan Co. Ltd. Acquires 1,250 Shares of Adobe Inc. (NASDAQ:ADBE)

Global X Japan Co. Ltd. raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,978 shares of the software company's stock after buying an additional 1,250 shares during the quarter. Adobe comprises 0.5% of Global X Japan Co. Ltd.'s investment portfolio, making the stock its 27th largest holding. Global X Japan Co. Ltd.'s holdings in Adobe were worth $4,594,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Siemens Fonds Invest GmbH increased its position in shares of Adobe by 252.9% during 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 Adobe during the fourth quarter worth $28,000. Copia Wealth Management bought a new stake in Adobe in the 4th quarter valued at $28,000. Summit Securities Group LLC bought a new stake in Adobe in the 4th quarter valued at $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Adobe in the 4th quarter valued at $36,000. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 1.2%

ADBE stock traded down $4.64 during midday trading on Thursday, reaching $378.04. The stock had a trading volume of 4,800,560 shares, compared to its average volume of 3,396,194. The firm has a market cap of $161.12 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.81 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve 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 business has a fifty day simple moving average of $388.63 and a two-hundred day simple moving average of $419.09.

Analysts Set New Price Targets

Several analysts have recently weighed in on ADBE shares. Stifel Nicolaus decreased their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. JPMorgan Chase & Co. decreased their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. UBS Group increased their target price on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Jefferies Financial Group decreased their price target on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $494.67.

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.