Warther Private Wealth LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 52.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,686 shares of the software company's stock after selling 1,854 shares during the quarter. Warther Private Wealth LLC's holdings in Adobe were worth $647,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Adobe during the 4th quarter worth $76,712,000. Bank Pictet & Cie Europe AG raised its position in Adobe by 2.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after purchasing an additional 756 shares during the last quarter. Aveo Capital Partners LLC raised its position in Adobe by 17.7% during the 4th quarter. Aveo Capital Partners LLC now owns 1,139 shares of the software company's stock worth $506,000 after purchasing an additional 171 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its position in Adobe by 3.2% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 1,655 shares of the software company's stock worth $736,000 after purchasing an additional 51 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. Evercore ISI reaffirmed an "outperform" rating and set a $475.00 target price on shares of Adobe in a research report on Friday. Bank of America raised their target price on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Piper Sandler decreased their target price on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and a consensus price target of $494.67.
Check Out Our Latest Research Report on ADBE
Adobe Price Performance
Shares of NASDAQ ADBE opened at $391.68 on Monday. The stock's 50 day moving average price is $386.76 and its 200-day moving average price is $420.43. The company has a market capitalization of $166.93 billion, a PE ratio of 31.59, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.
Insider Buying and Selling
In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.
Adobe Company Profile
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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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