Versor Investments LP Buys 5,016 Shares of Adobe Inc. (NASDAQ:ADBE)

Key Points

• Versor Investments LP increased its stake in Adobe Inc. by 97.7%, acquiring an additional 5,016 shares, bringing its total ownership to 10,151 shares valued at approximately $3.89 million.
• Adobe's stock is currently trading at $354.85, with the company recently reporting earnings of $5.06 per share, surpassing estimates, and achieving a revenue of $5.87 billion for the quarter.
• Institutional investors own 81.79% of Adobe's stock, indicating strong institutional interest, with several large investors recently increasing their holdings in the company.

Versor Investments LP boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 97.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,151 shares of the software company's stock after buying an additional 5,016 shares during the period. Adobe makes up about 0.6% of Versor Investments LP's holdings, making the stock its 11th largest holding. Versor Investments LP's holdings in Adobe were worth $3,893,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADBE. Brighton Jones LLC boosted its stake in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after buying an additional 167 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after buying an additional 756 shares during the period. Gamco Investors INC. ET AL boosted its stake in Adobe by 3.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,678 shares of the software company's stock valued at $746,000 after buying an additional 49 shares during the period. GeoWealth Management LLC raised its position in Adobe by 7.2% during the fourth quarter. GeoWealth Management LLC now owns 4,220 shares of the software company's stock valued at $1,877,000 after purchasing an additional 285 shares in the last quarter. Finally, Forum Financial Management LP raised its position in Adobe by 10.9% during the fourth quarter. Forum Financial Management LP now owns 4,252 shares of the software company's stock valued at $1,891,000 after purchasing an additional 417 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Up 1.8%

NASDAQ ADBE opened at $354.85 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $150.53 billion, a PE ratio of 22.70, a PEG ratio of 1.68 and a beta of 1.51. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $587.75. The business's 50-day moving average is $371.84 and its 200 day moving average is $392.50.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. Adobe's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $4.48 earnings per share. 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 equities research analysts have weighed in on the company. BMO Capital Markets restated an "outperform" rating and set a $450.00 price target on shares of Adobe in a research report on Friday, June 13th. Royal Bank Of Canada restated an "outperform" rating and set a $480.00 price target on shares of Adobe in a research report on Thursday, June 5th. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and lowered their price target for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, DA Davidson restated a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $467.58.

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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