Adobe Inc. (NASDAQ:ADBE) Position Raised by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,372 shares of the software company's stock after acquiring an additional 2,173 shares during the quarter. Adobe comprises about 2.2% of Schaper Benz & Wise Investment Counsel Inc. WI's investment portfolio, making the stock its 10th biggest position. Schaper Benz & Wise Investment Counsel Inc. WI's holdings in Adobe were worth $27,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Copia Wealth Management bought a new stake in Adobe in the fourth quarter worth about $28,000. SWAN Capital LLC purchased a new stake in shares of Adobe in the fourth quarter worth approximately $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the 4th quarter worth approximately $31,000. Bernard Wealth Management Corp. purchased a new position in Adobe during the 4th quarter valued at $36,000. Finally, Mascoma Wealth Management LLC boosted its holdings in Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after acquiring an additional 50 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Adobe Stock Down 1.2%

Shares of Adobe stock traded down $4.64 on Wednesday, reaching $378.04. The stock had a trading volume of 4,800,560 shares, compared to its average volume of 3,396,192. 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 stock has a market capitalization of $161.12 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.81 and a beta of 1.55. The company has a 50 day moving average price of $388.36 and a 200 day moving average price of $419.38. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup reduced their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research note on Monday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $480.00 price target on shares of Adobe in a research note on Thursday, June 5th. Jefferies Financial Group decreased their price objective on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a report on Monday, March 31st. Wells Fargo & Company restated an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Finally, Bank of America raised their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Nine investment 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $494.67.

Adobe Company 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.