Marietta Wealth Management LLC Purchases 5,722 Shares of Adobe Inc. (NASDAQ:ADBE)

Marietta Wealth Management LLC increased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 36.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,326 shares of the software company's stock after acquiring an additional 5,722 shares during the quarter. Adobe accounts for approximately 1.2% of Marietta Wealth Management LLC's portfolio, making the stock its 29th largest position. Marietta Wealth Management LLC's holdings in Adobe were worth $8,179,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Copia Wealth Management purchased a new stake in shares of Adobe in the fourth quarter valued at about $28,000. SWAN Capital LLC purchased a new position in shares of Adobe in the 4th quarter worth approximately $28,000. Summit Securities Group LLC bought a new position in shares of Adobe in the fourth quarter valued at approximately $31,000. Bernard Wealth Management Corp. purchased a new stake in Adobe during the fourth quarter worth about $36,000. Finally, Mascoma Wealth Management LLC increased its position in Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Trading Down 0.3%

Shares of Adobe stock traded down $1.12 during trading on Friday, reaching $376.92. 8,089,833 shares of the stock were exchanged, compared to its average volume of 3,392,807. 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 firm has a market cap of $160.64 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.55. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The stock's fifty day moving average is $389.67 and its 200 day moving average is $416.35.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. BMO Capital Markets reiterated an "outperform" rating and set a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. DA Davidson reiterated a "buy" rating and issued a $500.00 target price on shares of Adobe in a research note on Friday. UBS Group upped their price target on shares of Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research note on Monday, June 9th. Citigroup cut their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Finally, Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Nine 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $496.75.

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.