Swiss National Bank raised its position in Adobe Inc. (NASDAQ:ADBE – Get Rating) by 13.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,060,789 shares of the software company's stock after purchasing an additional 249,900 shares during the period. Adobe accounts for approximately 0.5% of Swiss National Bank's portfolio, making the stock its 28th largest position. Swiss National Bank owned 0.44% of Adobe worth $938,937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Delta Financial Advisors LLC lifted its position in shares of Adobe by 2.3% in the 4th quarter. Delta Financial Advisors LLC now owns 883 shares of the software company's stock worth $501,000 after purchasing an additional 20 shares during the period. Sittner & Nelson LLC lifted its position in shares of Adobe by 14.8% in the 4th quarter. Sittner & Nelson LLC now owns 155 shares of the software company's stock worth $88,000 after purchasing an additional 20 shares during the period. Kesler Norman & Wride LLC lifted its position in shares of Adobe by 1.0% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,047 shares of the software company's stock worth $1,161,000 after purchasing an additional 21 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Adobe by 1.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,957 shares of the software company's stock worth $1,110,000 after purchasing an additional 21 shares during the period. Finally, Accurate Wealth Management LLC lifted its position in shares of Adobe by 4.0% during the 4th quarter. Accurate Wealth Management LLC now owns 552 shares of the software company's stock valued at $326,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 82.54% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Adobe from $575.00 to $500.00 in a research report on Friday, June 17th. Cowen dropped their target price on shares of Adobe from $550.00 to $520.00 in a research report on Friday, June 17th. Credit Suisse Group dropped their target price on shares of Adobe from $525.00 to $425.00 and set a "neutral" rating on the stock in a research report on Friday, June 17th. Mizuho dropped their target price on shares of Adobe from $530.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 17th. Finally, Evercore ISI dropped their target price on shares of Adobe from $650.00 to $475.00 and set an "outperform" rating on the stock in a research report on Friday, June 17th. Six equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $489.31.

Insider Activity at Adobe

In related news, CMO Ann Lewnes sold 794 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $400.00, for a total transaction of $317,600.00. Following the completion of the transaction, the chief marketing officer now owns 23,988 shares in the company, valued at $9,595,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Adobe news, CMO Ann Lewnes sold 794 shares of the company's stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $400.00, for a total transaction of $317,600.00. Following the sale, the chief marketing officer now directly owns 23,988 shares of the company's stock, valued at $9,595,200. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 132 shares of the company's stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $409.75, for a total transaction of $54,087.00. Following the sale, the chief accounting officer now directly owns 2,465 shares in the company, valued at $1,010,033.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,637 shares of company stock worth $1,438,682. 0.23% of the stock is owned by company insiders.

Adobe Stock Performance

NASDAQ ADBE opened at $433.43 on Friday. Adobe Inc. has a 1 year low of $338.00 and a 1 year high of $699.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $202.85 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.39 and a beta of 1.12. The company has a fifty day moving average price of $392.99 and a 200-day moving average price of $427.11.

Adobe (NASDAQ:ADBE – Get Rating) last posted its quarterly earnings results on Thursday, June 16th. The software company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.05. The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.34 billion. Adobe had a net margin of 29.29% and a return on equity of 36.70%. During the same quarter in the prior year, the business earned $2.56 earnings per share. As a group, equities research analysts predict that Adobe Inc. will post 10.99 EPS for the current fiscal year.

Adobe Company Profile

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Adobe Inc 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.

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