Analyzing Market Sentiment Toward Adobe (ADBE) Stock

By Emilio Sanchez • Friday, March 15 15:10 • Permanent Link

This afternoon we watched Adobe drop -13.9% to a price of $491.14 per share. The Large-Cap Software company is now trading -24.7% below its average target price of $652.28. Analysts have set target prices ranging from $499.0 to $754.87 per share for Adobe, and have given the stock an average rating of buy.

The stock has a very low short interest at 1.2%, and a short ratio of 1.57. The company's insiders own 0.2% 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 86.9% of Adobe's shares being owned by this investor type.

Institutions Invested in Adobe

Date Reported	Holder	Percentage	Shares	Value
2023-12-31	Vanguard Group Inc	9%	40,266,172	$19,776,328,305
2023-12-31	Blackrock Inc.	8%	37,969,754	$18,648,465,535
2023-12-31	State Street Corporation	4%	19,553,334	$9,603,424,747
2023-12-31	FMR, LLC	3%	11,532,746	$5,664,193,039
2023-12-31	Morgan Stanley	2%	10,143,892	$4,982,071,265
2023-12-31	Geode Capital Management, LLC	2%	9,903,030	$4,863,774,299
2023-12-31	JP Morgan Chase & Company	2%	8,872,647	$4,357,711,977
2023-12-31	Bank Of New York Mellon Corporation	1%	6,524,872	$3,204,625,729
2023-12-31	Price (T.Rowe) Associates Inc	1%	6,497,332	$3,191,099,733
2023-12-31	Primecap Management Company	1%	5,942,278	$2,918,490,503

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.