PKO Investment Management Joint Stock Co Boosts Position in Adobe Inc. (NASDAQ:ADBE)

PKO Investment Management Joint Stock Co raised its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 12.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,052 shares of the software company's stock after purchasing an additional 2,052 shares during the period. PKO Investment Management Joint Stock Co's holdings in Adobe were worth $6,923,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. Arizona State Retirement System increased its position in shares of Adobe by 0.4% during the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock worth $56,784,000 after purchasing an additional 570 shares during the last quarter. Burling Wealth Partners LLC acquired a new stake in shares of Adobe during the 4th quarter worth about $1,173,000. Sound Income Strategies LLC increased its position in shares of 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 purchasing an additional 46 shares during the last quarter. Horan Capital Advisors LLC. boosted its holdings in Adobe by 2.4% during the 4th quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company's stock valued at $2,162,000 after acquiring an additional 114 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in Adobe by 85.8% during the 4th quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company's stock valued at $1,043,000 after acquiring an additional 1,083 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup lowered their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday. DA Davidson lowered their target price on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a report on Monday, April 14th. BMO Capital Markets restated an "outperform" rating and set a $450.00 target price on shares of Adobe in a report on Friday, June 13th. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Finally, UBS Group raised their target price on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a report on Monday, June 9th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and a consensus target price of $494.67.

Adobe Stock Down 1.2%

ADBE stock traded down $4.64 during trading on Thursday, hitting $378.04. 4,800,560 shares of the company's stock were exchanged, compared to its average volume of 3,396,194. The business has a 50-day moving average price of $389.19 and a two-hundred day moving average price of $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 Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54.

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.