Pure Financial Advisors LLC Buys 482 Shares of Adobe Inc. (NASDAQ:ADBE)

Pure Financial Advisors LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 24.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,435 shares of the software company’s stock after purchasing an additional 482 shares during the quarter. Pure Financial Advisors LLC’s holdings in Adobe were worth $934,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH lifted its stake in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after buying an additional 39,888 shares during the last quarter. SWAN Capital LLC bought a new position in Adobe in the 4th quarter worth $28,000. Copia Wealth Management acquired a new position in Adobe during the 4th quarter worth $28,000. Summit Securities Group LLC bought a new stake in Adobe during the fourth quarter valued at about $31,000. Finally, Garde Capital Inc. acquired a new stake in shares of Adobe in the first quarter valued at about $34,000. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research analyst reports. Oppenheimer cut their price objective on Adobe from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday, June 13th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Robert W. Baird raised their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. JPMorgan Chase & Co. dropped their target price on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group increased their price target on shares of Adobe from $380.00 to $430.00 and gave the company a “neutral” rating in a report on Monday, June 9th. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $496.75.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $384.95 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18. The business’s fifty day moving average price is $392.49 and its two-hundred day moving average price is $412.76. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market capitalization of $164.07 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.84 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.