Adobe Inc. (NASDAQ:ADBE) Shares Sold by F M Investments LLC

F M Investments LLC trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 34.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,606 shares of the software company’s stock after selling 20,337 shares during the period. Adobe comprises about 0.6% of F M Investments LLC’s holdings, making the stock its 27th biggest position. F M Investments LLC’s holdings in Adobe were worth $17,167,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in shares of Adobe by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after buying an additional 33,414 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after purchasing an additional 570 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Adobe by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock valued at $44,090,000 after purchasing an additional 1,326 shares during the last quarter. M. Kraus & Co purchased a new stake in Adobe in the 4th quarter valued at approximately $3,285,000. Finally, Silicon Valley Capital Partners grew its holdings in Adobe by 4.1% during the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock valued at $2,656,000 after buying an additional 236 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $364.64 on Thursday. The business’s 50-day simple moving average is $416.53 and its 200-day simple moving average is $458.06. 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 Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The firm has a market cap of $155.41 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 2.15 and a beta of 1.49.

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

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last 90 days. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent research reports. DA Davidson dropped their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 15th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Barclays reduced their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, BMO Capital Markets decreased their target price on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $531.54.

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.