Investment Research & Advisory Group Inc. Buys 726 Shares of Adobe Inc. (NASDAQ:ADBE)

Investment Research & Advisory Group Inc. lifted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,565 shares of the software company's stock after buying an additional 726 shares during the period. Investment Research & Advisory Group Inc.'s holdings in Adobe were worth $2,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Siemens Fonds Invest GmbH lifted its stake in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new position in shares of Adobe in the fourth quarter worth approximately $28,000. Copia Wealth Management purchased a new position in shares of Adobe during the fourth quarter valued at approximately $28,000. Summit Securities Group LLC purchased a new position in shares of Adobe during the fourth quarter valued at approximately $31,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Adobe during the fourth quarter valued at approximately $36,000. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 price objective on shares of Adobe in a report on Thursday, June 5th. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Evercore ISI reissued an "outperform" rating and set a $475.00 price objective on shares of Adobe in a report on Friday, June 13th. JMP Securities reissued a "market perform" rating on shares of Adobe in a report on Monday. Finally, BMO Capital Markets reissued an "outperform" rating and set a $450.00 price objective on shares of Adobe in a report on Friday, June 13th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $496.75.

Adobe Price Performance

Shares of ADBE traded up $3.20 during mid-day trading on Monday, reaching $380.12. The stock had a trading volume of 3,829,436 shares, compared to its average volume of 3,394,594. The firm has a market cap of $162.01 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.79 and a beta of 1.55. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The business has a fifty day moving average of $390.26 and a 200 day moving average of $414.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99.

About Adobe

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.