Roberts Wealth Advisors LLC Purchases 517 Shares of Adobe Inc. (NASDAQ:ADBE)

Roberts Wealth Advisors LLC grew its position in Adobe Inc. (NASDAQ:ADBE) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,799 shares of the software company’s stock after acquiring an additional 517 shares during the period. Roberts Wealth Advisors LLC’s holdings in Adobe were worth $2,991,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH lifted its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares during the last quarter. SWAN Capital LLC acquired a new stake in Adobe during the fourth quarter worth approximately $28,000. Copia Wealth Management acquired a new stake in Adobe during the fourth quarter worth approximately $28,000. Summit Securities Group LLC acquired a new stake in Adobe during the fourth quarter worth approximately $31,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Adobe during the fourth quarter worth approximately $36,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Performance

Shares of Adobe stock opened at $378.04 on Friday. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The stock has a market cap of $161.12 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.79 and a beta of 1.55. The company’s fifty day moving average is $389.19 and its 200 day moving average is $418.14.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADBE. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday. Evercore ISI reiterated an “outperform” rating and issued a $475.00 price target on shares of Adobe in a research report on Friday, June 13th. DA Davidson decreased their price objective on shares of Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Piper Sandler decreased their price objective on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Bank of America lifted their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $494.67.

Adobe 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.