1,463 Shares in Adobe Inc (ADBE) Acquired by WESPAC Advisors LLC
WESPAC Advisors LLC acquired a new stake in shares of Adobe Inc (NASDAQ:ADBE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,463 shares of the software company’s stock, valued at approximately $323,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brookstone Capital Management raised its holdings in shares of Adobe by 4.6% during the fourth quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock valued at $210,000 after purchasing an additional 41 shares during the period. JOYN Advisors Inc. increased its position in shares of Adobe by 7.4% during the fourth quarter. JOYN Advisors Inc. now owns 622 shares of the software company’s stock worth $141,000 after acquiring an additional 43 shares in the last quarter. Ipswich Investment Management Co. Inc. increased its position in shares of Adobe by 2.8% during the first quarter. Ipswich Investment Management Co. Inc. now owns 1,640 shares of the software company’s stock worth $437,000 after acquiring an additional 45 shares in the last quarter. Townsend & Associates Inc increased its position in shares of Adobe by 1.0% during the first quarter. Townsend & Associates Inc now owns 4,767 shares of the software company’s stock worth $1,270,000 after acquiring an additional 49 shares in the last quarter. Finally, Founders Capital Management increased its position in shares of Adobe by 0.3% during the fourth quarter. Founders Capital Management now owns 17,500 shares of the software company’s stock worth $3,959,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.
In other news, CMO Ann Lewnes sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $272.18, for a total transaction of $816,540.00. Following the completion of the transaction, the chief marketing officer now directly owns 64,458 shares of the company’s stock, valued at approximately $17,544,178.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John E. Warnock sold 1,177 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $269.47, for a total transaction of $317,166.19. Following the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at $4,335,233.36. The disclosure for this sale can be found here. Insiders sold a total of 287,330 shares of company stock valued at $71,134,520 over the last ninety days. 0.32% of the stock is currently owned by insiders.
Shares of ADBE stock opened at $270.57 on Friday. Adobe Inc has a 52-week low of $204.95 and a 52-week high of $277.61. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $132.02 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 2.64 and a beta of 1.10.
Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.25). Adobe had a return on equity of 30.60% and a net margin of 28.08%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the company posted $1.55 earnings per share. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, equities analysts expect that Adobe Inc will post 6.24 EPS for the current year.
Adobe Company Profile
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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