Stifel Nicolaus Lowers Adobe (NASDAQ:ADBE) Price Target to $480.00

Adobe (NASDAQ:ADBE - Free Report) had its price objective reduced by Stifel Nicolaus from $525.00 to $480.00 in a research note issued to investors on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company's stock.

Several other analysts also recently issued reports on ADBE. BMO Capital Markets reissued an "outperform" rating and set a $450.00 target price on shares of Adobe in a research note on Friday. Oppenheimer lowered their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday. Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. DA Davidson decreased their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird lowered their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $494.67.

Adobe Trading Up 2.6%

Shares of NASDAQ:ADBE traded up $10.05 during mid-day trading on Friday, hitting $401.73. The stock had a trading volume of 6,793,710 shares, compared to its average volume of 3,395,043. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $171.22 billion, a PE ratio of 32.40, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe has a 12-month low of $332.01 and a 12-month high of $587.75. The company's 50 day moving average is $386.76 and its 200-day moving average is $420.43.

Insider Buying and Selling

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after purchasing an additional 171,547 shares during the period. Geode Capital Management LLC raised its position in shares of Adobe by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock valued at $4,739,788,000 after purchasing an additional 151,286 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after buying an additional 821,293 shares during the last quarter. Norges Bank bought a new stake in shares of Adobe during the 4th quarter worth $2,553,035,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Adobe by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock worth $2,097,289,000 after buying an additional 126,688 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

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.