Adobe Inc. (NASDAQ:ADBE) Shares Bought by ORG Wealth Partners LLC

ORG Wealth Partners LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 33.5% during the first quarter, Holdings Channel.com reports. The firm owned 1,431 shares of the software company’s stock after purchasing an additional 359 shares during the quarter. ORG Wealth Partners LLC’s holdings in Adobe were worth $548,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Sepio Capital LP raised its position in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock valued at $442,000 after purchasing an additional 22 shares in the last quarter. Cadence Bank increased its holdings in shares of Adobe by 0.5% in the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock valued at $2,171,000 after acquiring an additional 22 shares during the last quarter. Eagle Strategies LLC increased its holdings in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock valued at $651,000 after acquiring an additional 22 shares during the last quarter. RB Capital Management LLC increased its holdings in shares of Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock valued at $2,198,000 after acquiring an additional 22 shares during the last quarter. Finally, Orin Green Financial LLC increased its holdings in shares of Adobe by 3.8% in the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock valued at $276,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $378.04 on Thursday. The stock has a fifty day moving average price of $388.63 and a 200 day moving average price of $419.09. The stock has a market cap of $161.12 billion, a PE ratio of 24.19, a P/E/G ratio of 1.81 and a beta of 1.55. Adobe Inc. has a 1 year low of $332.01 and a 1 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.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ADBE shares. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday. Summit Redstone set a $410.00 target price on Adobe in a research report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. DA Davidson decreased their target price 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, Mizuho decreased their target price on Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a research report on Friday, June 13th. Nine analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $494.67.

Adobe Company 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.