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

WP Advisors LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,285 shares of the software company’s stock after purchasing an additional 255 shares during the quarter. WP Advisors LLC’s holdings in Adobe were worth $1,016,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the period. FMR LLC grew its position in shares of Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the period. Seilern Investment Management Ltd acquired a new stake in shares of Adobe during the 4th quarter worth approximately $110,744,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Adobe during the 3rd quarter worth approximately $126,703,000. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other news, Director David A. Ricks acquired 2,250 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Adobe Trading Down 0.5 %

NASDAQ ADBE opened at $454.69 on Friday. The stock has a market capitalization of $197.93 billion, a price-to-earnings ratio of 36.67, a PEG ratio of 2.25 and a beta of 1.31. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business’s fifty day moving average is $440.89 and its 200-day moving average is $494.61.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.52 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.