Global Trust Asset Management LLC Has $247,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Global Trust Asset Management LLC lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 31.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 644 shares of the software company’s stock after selling 290 shares during the quarter. Global Trust Asset Management LLC’s holdings in Adobe were worth $247,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ADBE. Siemens Fonds Invest GmbH lifted its holdings 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 purchasing an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new position in shares of Adobe during the 4th quarter valued at about $28,000. Copia Wealth Management bought a new position in shares of Adobe during the 4th quarter valued at about $28,000. Summit Securities Group LLC bought a new position in shares of Adobe during the 4th quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Adobe during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Adobe Trading Up 2.6%

Shares of ADBE stock opened at $401.73 on Tuesday. The firm has a market capitalization of $171.22 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $388.00 and its 200 day simple moving average is $419.64.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $480.00 price objective on shares of Adobe in a report on Thursday, June 5th. Mizuho decreased their price target on Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler decreased their price target on Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley decreased their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $450.00 price target on shares of Adobe in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus price target of $494.67.

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.