Plimoth Trust Co. LLC Has $3.15 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Plimoth Trust Co. LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.1% during the first quarter, Holdings Channel.com reports. The firm owned 8,218 shares of the software company’s stock after purchasing an additional 244 shares during the period. Plimoth Trust Co. LLC’s holdings in Adobe were worth $3,152,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Adobe in the 4th quarter worth about $2,553,035,000. GAMMA Investing LLC boosted its stake in Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock valued at $1,147,049,000 after purchasing an additional 2,984,391 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after purchasing an additional 1,041,513 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock worth $937,291,000 after purchasing an additional 952,233 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Adobe by 1,414.5% in the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company’s stock worth $395,321,000 after purchasing an additional 830,300 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. DA Davidson cut their target price on Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Evercore ISI restated an “outperform” rating and set a $475.00 price objective on shares of Adobe in a research note on Friday, June 13th. Oppenheimer cut their price objective on shares of Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, June 13th. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $480.00 price target on shares of Adobe in a research report on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $494.67.

Adobe Trading Down 1.2%

NASDAQ:ADBE opened at $378.04 on Thursday. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $388.63 and its 200 day moving average is $419.09. The stock has a market capitalization of $161.12 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.81 and a beta of 1.55.

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.