WP Advisors LLC Acquires 255 Shares of Adobe Inc. (NASDAQ:ADBE)

WP Advisors LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,540 shares of the software company’s stock after purchasing an additional 255 shares during the period. WP Advisors LLC’s holdings in Adobe were worth $974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH raised its stake in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after acquiring an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the first quarter valued at approximately $26,000. SWAN Capital LLC acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $28,000. Copia Wealth Management acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $28,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Adobe in the first quarter valued at approximately $30,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.8%

Shares of NASDAQ:ADBE opened at $341.05 on Monday. The company’s 50-day moving average price is $378.55 and its two-hundred day moving average price is $395.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. 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 $144.67 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.62 and a beta of 1.51.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping the consensus estimate of $4.97 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.48 EPS. On average, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and issued a $500.00 price target on shares of Adobe in a report on Friday, June 20th. BMO Capital Markets reissued an “outperform” rating and issued a $450.00 price target on shares of Adobe in a report on Friday, June 13th. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and lowered their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $475.00 target price on shares of Adobe in a report on Friday, June 13th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $470.00 target price (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $473.88.

Adobe Company 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.