Garde Capital Inc. Takes $34,000 Position in Adobe Inc. (NASDAQ:ADBE)

Garde Capital Inc. bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 89 shares of the software company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Brighton Jones LLC increased its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Adobe in the 4th quarter valued at $76,712,000. Bank Pictet & Cie Europe AG increased its stake in shares of Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock valued at $12,882,000 after buying an additional 756 shares during the period. Denver PWM LLC increased its stake in shares of Adobe by 71.3% in the 4th quarter. Denver PWM LLC now owns 173 shares of the software company’s stock valued at $77,000 after buying an additional 72 shares during the period. Finally, Cohen Capital Management Inc. increased its stake in shares of Adobe by 24.6% in the 4th quarter. Cohen Capital Management Inc. now owns 3,037 shares of the software company’s stock valued at $1,350,000 after buying an additional 600 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Down 0.3%

ADBE stock opened at $376.92 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18. The stock has a market capitalization of $160.64 billion, a P/E ratio of 24.12, a P/E/G ratio of 1.79 and a beta of 1.55. The business has a 50-day moving average of $389.67 and a 200-day moving average of $415.50. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ADBE shares. Morgan Stanley lowered their target price on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Piper Sandler decreased their price objective on Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Mizuho decreased their price objective on Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a research note on Friday, June 13th. UBS Group lifted their price objective on Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. Finally, DA Davidson reaffirmed a “buy” rating and set a $500.00 price objective on shares of Adobe in a research note on Friday. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $496.75.

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.