Miracle Mile Advisors LLC Trims Stock Position in Adobe Inc. (NASDAQ: ADBE)
Miracle Mile Advisors LLC decreased its position in Adobe Inc. (NASDAQ: ADBE) by 14.4% in the first quarter, according to its latest Type 13F filing with the SEC. The firm owned 1,788 shares of the software company’s stock after selling 301 shares during the period. Miracle Mile Advisors LLC’s holdings in Adobe were worth $686,000 at the end of the most current quarter. Other hedge funds and other institutional financiers likewise just recently purchased and sold shares of the company. Siemens Fonds Invest GmbH boosted its stake in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software application company’s stock valued at $25,000 after buying an extra 39,888 shares in the last quarter. SWAN Capital LLC bought a brand-new stake in Adobe during the 4th quarter worth $28,000. Copia Wealth Management purchased a brand-new stake in Adobe during the fourth quarter worth $28,000. Top Securities Group LLC purchased a brand-new stake in Adobe during the 4th quarter valued at $31,000. Bernard Wealth Management Corp. acquired a brand-new position in shares of Adobe in the 4th quarter valued at $36,000. Institutional investors own 81.79% of the business’s stock. Adobe Price Performance Shares of NASDAQ: ADBE opened at $416.06 on Wednesday. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The business has a current ratio of 1.07, a quick ratio of 1.07, and a debt-to-equity ratio of 0.29. The company has a market cap of $177.32 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 2.15, and a beta of 1.55. The business’s 50-day moving average is $382.99, and its 200-day moving average is $423.44.
Expert Upgrades and Downgrades: A variety of equities research analysts recently weighed in on the business. Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. Robert W. Baird decreased their cost target on shares of Adobe from $490.00 to $410.00 and set a “neutral” score for the business in a research study report on Wednesday, March 19th. UBS Group lifted their rate goal on shares of Adobe from $380.00 to $430.00 and provided the stock a “neutral” ranking in a research study report on Monday. Bank of America reduced their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” score for the company in a research study report on Thursday, March 13th. Wells Fargo & Company lowered their target cost on shares of Adobe from $600.00 to $430.00 and set an “obese” score for the company in a research note on Tuesday, April 22nd. 9 analysts have actually ranked the stock with a hold ranking, seventeen have actually released a buy rating, and one has assigned a strong buy score to the stock. According to MarketBeat, the stock presently has a consensus score of “Moderate Buy” and an agreement cost target of $503.33.
Check Out Our Most Current Research Report on Adobe Insider Buying and Selling at Adobe: In related news, CFO Daniel Durn obtained 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The stock was acquired at an average rate of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the primary financial officer now owns 29,876 shares of the business’s stock, valued at roughly $11,668,968.08. This represents a 4.55% increase in their position. The acquisition was revealed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.
Adobe Profile (Free Report): Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three sections: Digital Media, Digital Experience, and Publishing and Marketing. The Digital Media section uses products, services, and options that enable people, groups, and business to create, release, and promote content; and File Cloud, a merged cloud-based document services platform.
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