[ad_1]
Sound Income Strategies LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE – Free Report) by 17.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308 shares of the software company’s stock after purchasing an additional 46 shares during the period. Sound Income Strategies LLC’s holdings in Adobe were worth $118,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of ADBE. Brighton Jones LLC lifted its stake 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 acquiring an additional 167 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Adobe during the 4th quarter worth about $76,712,000. Bank Pictet & Cie Europe AG lifted its stake 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 acquiring an additional 756 shares in the last quarter. Allworth Financial LP lifted its stake in Adobe by 11.5% during the 4th quarter. Allworth Financial LP now owns 14,189 shares of the software company’s stock worth $6,205,000 after acquiring an additional 1,469 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in Adobe by 1.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 5,283 shares of the software company’s stock worth $2,349,000 after acquiring an additional 99 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.
Analyst Upgrades and Downgrades
ADBE has been the topic of several research reports. Bank of America increased 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 on the stock in a research note on Thursday, March 13th. Wells Fargo & Company restated an “overweight” rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a report on Friday. Mizuho cut their price target on Adobe from $575.00 to $530.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Redburn Atlantic initiated coverage on Adobe in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $494.67.
Read Our Latest Analysis on ADBE
Adobe Stock Up 2.6%
Shares of NASDAQ ADBE opened at $401.73 on Tuesday. The stock has a market cap of $171.22 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The business has a 50-day moving average price of $388.00 and a 200 day moving average price of $419.64.
Insider Activity at Adobe
In other news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.
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.
Featured Articles
Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE – Free Report).
Receive News & Ratings for Adobe Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Adobe and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link