Premier Path Wealth Partners LLC Increases Stake in Adobe Inc. (NASDAQ:ADBE)

Premier Path Wealth Partners LLC boosted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 19.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,582 shares of the software company's stock after acquiring an additional 762 shares during the period. Premier Path Wealth Partners LLC's holdings in Adobe were worth $1,757,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH increased 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 purchasing an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new position in Adobe in the 4th quarter worth approximately $28,000. Copia Wealth Management bought a new position in Adobe in the 4th quarter worth approximately $28,000. Summit Securities Group LLC purchased a new position in Adobe in the 4th quarter valued at approximately $31,000. Finally, Bernard Wealth Management Corp. bought a new stake in Adobe during the 4th quarter valued at $36,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group lifted their price target on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Royal Bank Of Canada restated an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup lowered their price target on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Jefferies Financial Group reduced their price objective on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $494.67.

Adobe Price Performance

Shares of ADBE 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 company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $161.12 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.81 and a beta of 1.55. The company's 50-day moving average is $388.63 and its 200 day moving average is $419.09. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75.

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.