Koss Olinger Consulting LLC Acquires New Holdings in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Koss Olinger Consulting LLC acquired 795 shares of Adobe Inc. valued at approximately $305,000 during the first quarter.
• Several institutional investors, including GAMMA Investing LLC and Goldman Sachs Group Inc., significantly increased their holdings in Adobe, with GAMMA raising its position by over 46,000%.
• Adobe reported quarterly earnings of $5.06 per share, surpassing analyst estimates, with revenue rising to $5.87 billion, a 10.6% increase year-over-year.

Koss Olinger Consulting LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 795 shares of the software company's stock, valued at approximately $305,000.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after purchasing an additional 2,984,391 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after buying an additional 1,216,351 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Adobe by 1,414.5% in the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after buying an additional 830,300 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Adobe during the fourth quarter valued at $365,750,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE opened at $341.05 on Monday. The stock has a 50 day moving average of $378.55 and a 200 day moving average of $395.47. The company has a market capitalization of $144.67 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.62 and a beta of 1.51. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.48 EPS. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADBE. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird increased their price target on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Evercore ISI reiterated an "outperform" rating and set a $475.00 target price on shares of Adobe in a research report on Friday, June 13th. Finally, Mizuho cut their target price on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average 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.

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