Nilsine Partners LLC Sells 74 Shares of Adobe Inc. (NASDAQ:ADBE)

Nilsine Partners LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 9.1% in the 1st quarter, Holdings Channel reports. The firm owned 742 shares of the software company’s stock after selling 74 shares during the period. Nilsine Partners LLC’s holdings in Adobe were worth $285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Siemens Fonds Invest GmbH raised its position in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after buying an additional 39,888 shares in the last quarter. SWAN Capital LLC purchased a new stake in shares of Adobe during the 4th quarter valued at about $28,000. Copia Wealth Management purchased a new stake in shares of Adobe during the 4th quarter valued at about $28,000. Summit Securities Group LLC purchased a new stake in shares of Adobe during the 4th quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Adobe during the 4th quarter valued at about $36,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $376.92 on Monday. The firm has a market cap of $160.64 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.55. The firm’s 50 day simple moving average is $389.67 and its 200-day simple moving average is $415.50. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADBE. Piper Sandler decreased their target price on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research report on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $496.75.

Check Out Our Latest Stock Report on ADBE

Adobe Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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