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
|2023-06-30||Vanguard Group Inc||9%||39,673,457||$21,176,099,952|
|2023-06-30||State Street Corporation||4%||18,862,098||$10,067,831,310|
|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.