Consolidated Portfolio Review Corp Acquires 281 Shares of Adobe Inc. (NASDAQ:ADBE)

Consolidated Portfolio Review Corp grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,009 shares of the software company’s stock after buying an additional 281 shares during the period. Consolidated Portfolio Review Corp’s holdings in Adobe were worth $2,305,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Adobe by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock worth $4,739,788,000 after purchasing an additional 151,286 shares during the last quarter. Norges Bank purchased a new stake in shares of Adobe during the 4th quarter valued at about $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Adobe by 12.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company’s stock valued at $2,375,345,000 after acquiring an additional 600,146 shares during the period. Northern Trust Corp grew its stake in shares of Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock valued at $2,363,125,000 after acquiring an additional 672,919 shares during the period. Finally, Edgewood Management LLC grew its stake in shares of Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company’s stock valued at $1,805,009,000 after acquiring an additional 696,172 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Robert W. Baird upped their price target on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Bank of America upped their price objective on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Evercore ISI restated an “outperform” rating and set a $475.00 price target on shares of Adobe in a report on Friday, June 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Monday. Finally, Stifel Nicolaus reduced their target price on Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research note on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $496.75.

Adobe Price Performance

Shares of ADBE stock opened at $380.12 on Tuesday. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The stock’s 50-day moving average is $390.26 and its 200 day moving average is $414.29. The company has a market cap of $162.01 billion, a P/E ratio of 24.32, a PEG ratio of 1.79 and a beta of 1.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18.

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.