Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its position in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 19.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,516 shares of the software company’s stock after buying an additional 2,900 shares during the period. Adobe makes up approximately 3.3% of Generali Investments Towarzystwo Funduszy Inwestycyjnych’s investment portfolio, making the stock its 5th largest position. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Adobe were worth $6,179,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CX Institutional increased its position in Adobe by 72.9% during the 3rd quarter. CX Institutional now owns 27,922 shares of the software company’s stock worth $9,849,000 after purchasing an additional 11,769 shares in the last quarter. Wright Investors Service Inc. grew its stake in shares of Adobe by 114.4% during the third quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company’s stock worth $3,499,000 after buying an additional 5,293 shares during the last quarter. Lathrop Investment Management Co. increased its holdings in shares of Adobe by 2.8% during the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after buying an additional 718 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Adobe during the third quarter worth $24,904,000. Finally, Mcdaniel Terry & Co. lifted its stake in shares of Adobe by 2.8% in the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after acquiring an additional 1,093 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.
Adobe Price Performance
ADBE stock opened at $304.72 on Tuesday. The firm has a market cap of $125.09 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.18 and a beta of 1.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $288.33 and a 12-month high of $465.70. The company’s fifty day simple moving average is $330.69 and its 200 day simple moving average is $343.59.
Insiders Place Their Bets
In other Adobe news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.
Wall Street Analyst Weigh In
ADBE has been the subject of a number of recent research reports. Barclays reaffirmed an “overweight” rating and issued a $415.00 target price on shares of Adobe in a report on Friday, December 5th. Oppenheimer downgraded Adobe from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 13th. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. The Goldman Sachs Group started coverage on shares of Adobe in a report on Monday, January 12th. They set a “sell” rating and a $290.00 target price on the stock. Finally, DA Davidson reaffirmed a “buy” rating and set a $500.00 price target on shares of Adobe in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $397.19.
Check Out Our Latest Stock Analysis on Adobe
Adobe Profile
Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.
The company’s core offerings are organized around digital media and digital experience.
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