ORG Wealth Partners LLC Buys 359 Shares of Adobe Inc. (NASDAQ:ADBE)

ORG Wealth Partners LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 33.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,431 shares of the software company’s stock after acquiring an additional 359 shares during the quarter. ORG Wealth Partners LLC’s holdings in Adobe were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Sepio Capital LP grew its position in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock valued at $442,000 after acquiring an additional 22 shares during the last quarter. Cadence Bank grew its position in shares of Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after buying an additional 22 shares in the last quarter. Eagle Strategies LLC grew its position in shares of Adobe by 1.5% during the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after buying an additional 22 shares in the last quarter. RB Capital Management LLC grew its position in shares of Adobe by 0.4% during the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock worth $2,198,000 after buying an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC grew its position in shares of Adobe by 3.8% during the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock worth $276,000 after buying an additional 23 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $378.04 on Thursday. 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 company has a market capitalization of $161.12 billion, a PE ratio of 24.19, a P/E/G ratio of 1.81 and a beta of 1.55. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The business’s fifty day moving average price is $388.63 and its 200 day moving average price is $419.09.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ADBE shares. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley decreased their price objective on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Wednesday, April 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 research note on Friday, June 13th. JPMorgan Chase & Co. decreased their price objective on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, BMO Capital Markets restated an “outperform” rating and set a $450.00 price objective on shares of Adobe in a research note on Friday, June 13th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $494.67.

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.