Fjell Capital LLC Acquires Shares of 3,451 Adobe Inc. (NASDAQ:ADBE)

Fjell Capital LLC bought a new position in Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, HoldingsChannel reports. The firm bought 3,451 shares of the software company’s stock, valued at approximately $1,535,000. Adobe accounts for 1.6% of Fjell Capital LLC’s holdings, making the stock its 23rd largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connable Office Inc. lifted its position in Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after buying an additional 20 shares during the last quarter. 1ST Source Bank lifted its holdings in shares of Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after acquiring an additional 20 shares during the last quarter. James J. Burns & Company LLC boosted its stake in shares of Adobe by 5.6% during the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after purchasing an additional 22 shares during the period. Holistic Financial Partners grew its holdings in Adobe by 6.0% during the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock valued at $200,000 after purchasing an additional 22 shares during the last quarter. Finally, Latitude Advisors LLC raised its position in Adobe by 4.3% in the 3rd quarter. Latitude Advisors LLC now owns 555 shares of the software company’s stock worth $287,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.2 %

Shares of NASDAQ:ADBE opened at $443.41 on Wednesday. The business’s 50-day moving average is $439.88 and its 200 day moving average is $492.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. The firm has a market capitalization of $193.02 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.52 earnings per share. On average, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681 shares of company stock valued at $2,525,126. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ADBE. Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. DA Davidson cut their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus cut their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $570.88.

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.