Adobe Inc. (NASDAQ:ADBE) is Wilson Asset Management International PTY Ltd.’s 9th Largest Position

Wilson Asset Management International PTY Ltd. grew its stake in Adobe Inc. (NASDAQ:ADBE) by 7.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,992 shares of the software company’s stock after purchasing an additional 2,867 shares during the period. Adobe comprises approximately 4.1% of Wilson Asset Management International PTY Ltd.’s investment portfolio, making the stock its 9th largest holding. Wilson Asset Management International PTY Ltd.’s holdings in Adobe were worth $15,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Adobe during the fourth quarter worth approximately $2,553,035,000. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 2,984,391 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock valued at $937,291,000 after buying an additional 952,233 shares in the last quarter. Two Sigma Advisers LP grew its stake in Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company’s stock valued at $395,321,000 after acquiring an additional 830,300 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Adobe in the 4th quarter valued at $365,750,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 1.3%

Shares of NASDAQ:ADBE opened at $392.10 on Wednesday. The company has a market capitalization of $166.33 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.83 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 business has a 50-day moving average price of $394.95 and a 200 day moving average price of $409.57. 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) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the business earned $4.48 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of several recent analyst reports. Morgan Stanley decreased their price objective on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target on the stock. in a research note on Wednesday. DA Davidson reiterated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research note on Friday, June 20th. Summit Redstone set a $410.00 target price on Adobe in a research report on Wednesday, March 19th. Finally, UBS Group lifted their price target on Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $488.08.

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.