Wealthcare Advisory Partners LLC Has $2.44 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Wealthcare Advisory Partners LLC grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,359 shares of the software company's stock after acquiring an additional 788 shares during the period. Wealthcare Advisory Partners LLC's holdings in Adobe were worth $2,439,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Sepio Capital LP increased its stake in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after purchasing an additional 22 shares in the last quarter. Cadence Bank boosted its holdings in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after buying an additional 22 shares during the period. Eagle Strategies LLC increased its position in shares of Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after acquiring an additional 22 shares in the last quarter. RB Capital Management LLC increased its position in shares of Adobe by 0.4% in the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after acquiring an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC raised its holdings in shares of Adobe by 3.8% during the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after acquiring an additional 23 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Redburn Atlantic began coverage on Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Wells Fargo & Company dropped their price target on Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. UBS Group increased their price objective on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, DA Davidson lowered their target price on Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $503.33.

Adobe Stock Performance

Shares of Adobe stock traded up $0.84 during trading on Thursday, reaching $413.68. The company's stock had a trading volume of 6,169,376 shares, compared to its average volume of 3,418,958. The business's fifty day moving average price is $384.27 and its 200-day moving average price is $423.37. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The firm has a market cap of $176.31 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the previous year, the company earned $4.48 earnings per share. As a group, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the business's stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

About Adobe

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.