Janney Capital Management LLC Sells 77 Shares of Adobe Inc. (NASDAQ:ADBE)

Janney Capital Management LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,519 shares of the software company’s stock after selling 77 shares during the period. Janney Capital Management LLC’s holdings in Adobe were worth $8,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ADBE. Sepio Capital LP lifted its holdings in shares of Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after acquiring an additional 22 shares during the last quarter. Cadence Bank lifted its holdings in shares of Adobe by 0.5% in the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after acquiring an additional 22 shares during the last quarter. Eagle Strategies LLC lifted its holdings in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after acquiring an additional 22 shares during the last quarter. RB Capital Management LLC lifted its holdings in shares of Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock worth $2,198,000 after acquiring an additional 22 shares during the last quarter. Finally, Orin Green Financial LLC lifted its holdings in shares of Adobe by 3.8% in the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock worth $276,000 after acquiring an additional 23 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 1.2%

ADBE stock opened at $378.04 on Thursday. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. 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. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. The company has a fifty day moving average of $388.63 and a 200-day moving average of $419.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ADBE shares. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday. Robert W. Baird increased their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday. Piper Sandler reduced their target price on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their target price on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, June 13th. Finally, KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday, March 21st. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $494.67.

Adobe 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.