Adobe stock is trading -6.31% below its average target price of $569.7 after dropping -1.2% during today's afternoon session. Analysts are giving the large-cap Software company an average rating of buy and target prices ranging from $403.65 to $622.45 per share.
The stock has a very low short interest at 0.9%, and a short ratio of 1.37. The company's insiders own 0.29% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 86.4% of Adobe's shares being owned by this investor type.
Institutions Invested in Adobe
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 9% | 39,673,457 | $21,176,099,952 |
| 2023-06-30 | Blackrock Inc. | 8% | 36,612,628 | $19,542,352,209 |
| 2023-06-30 | State Street Corporation | 4% | 18,862,098 | $10,067,831,310 |
| 2023-06-30 | FMR, LLC | 2% | 10,507,203 | $5,608,323,493 |
| 2023-06-30 | Morgan Stanley | 2% | 10,093,778 | $5,387,653,811 |
| 2023-06-30 | Geode Capital Management, LLC | 2% | 9,762,185 | $5,210,662,769 |
| 2023-06-30 | JP Morgan Chase & Company | 2% | 7,866,451 | $4,198,796,002 |
| 2023-06-30 | Bank Of New York Mellon Corporation | 1% | 6,765,321 | $3,611,056,977 |
| 2023-06-30 | Primecap Management Company | 1% | 6,108,578 | $3,260,513,907 |
| 2022-12-31 | Norges Bank Investment Management | 1% | 5,221,017 | $2,786,769,447 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Adobe.
