Trust Point Inc. decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 21.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,716 shares of the software company's stock after selling 758 shares during the period. Trust Point Inc.'s holdings in Adobe were worth $1,041,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Siemens Fonds Invest GmbH raised its stake in 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 purchased a new position in shares of Adobe in the 4th quarter valued at $28,000. Copia Wealth Management bought a new position in shares of Adobe in the 4th quarter worth $28,000. Summit Securities Group LLC purchased a new stake in shares of Adobe during the 4th quarter worth $31,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Adobe during the 4th quarter worth $36,000. Institutional investors own 81.79% of the company's stock.
Adobe Stock Performance
Adobe stock traded down $4.64 during midday trading on Thursday, hitting $378.04. 4,800,560 shares of the company were exchanged, compared to its average volume of 3,396,194. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. The firm has a market capitalization of $161.12 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.81 and a beta of 1.55. The business has a fifty day simple moving average of $388.63 and a two-hundred day simple moving average of $419.09. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on ADBE shares. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Jefferies Financial Group decreased their target price on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research report on Monday, March 31st. DA Davidson lowered their target price on shares of Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Evercore ISI reiterated an "outperform" rating and set a $475.00 price objective on shares of Adobe in a report on Friday, June 13th. Finally, Redburn Atlantic assumed coverage on Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average target price of $494.67.
Read Our Latest Research Report on Adobe
Adobe Profile
(
Free Report)
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.
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