Acropolis Investment Management LLC Sells 44 Shares of Adobe Inc. (NASDAQ:ADBE)

Acropolis Investment Management LLC lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 951 shares of the software company’s stock after selling 44 shares during the period. Acropolis Investment Management LLC’s holdings in Adobe were worth $365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH increased its stake in Adobe by 252.9% in the fourth 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 stake in Adobe in the fourth quarter valued at $28,000. Copia Wealth Management bought a new stake in Adobe in the fourth quarter valued at $28,000. Summit Securities Group LLC bought a new stake in Adobe in the fourth quarter valued at $31,000. Finally, Bernard Wealth Management Corp. bought a new stake in Adobe in the fourth quarter valued at $36,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 2.6%

Adobe stock opened at $401.73 on Tuesday. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market cap of $171.22 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The firm’s 50-day simple moving average is $388.00 and its 200 day simple moving average is $419.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADBE. UBS Group lifted their price target on shares of Adobe from $380.00 to $430.00 and gave the company a “neutral” rating in a research note on Monday, June 9th. Summit Redstone set a $410.00 target price on shares of Adobe in a research report on Wednesday, March 19th. Citigroup decreased their target price on shares of Adobe from $465.00 to $450.00 and set a “neutral” rating for the company in a research report on Monday. Mizuho decreased their target price on shares of Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $470.00 target price (up from $430.00) on shares of Adobe in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $494.67.

Insider Buying and Selling

In related news, CFO Daniel Durn bought 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

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.