Fairview Capital Investment Management LLC Increases Stock Position in Adobe Inc. (NASDAQ:ADBE)

Fairview Capital Investment Management LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 12.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,544 shares of the software company's stock after buying an additional 11,778 shares during the quarter. Adobe comprises 2.4% of Fairview Capital Investment Management LLC's investment portfolio, making the stock its 14th biggest holding. Fairview Capital Investment Management LLC's holdings in Adobe were worth $46,044,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADBE. Decker Retirement Planning Inc. acquired a new position in Adobe during the fourth quarter worth $31,000. Summit Securities Group LLC acquired a new position in Adobe during the fourth quarter worth $31,000. Caitlin John LLC raised its holdings in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after purchasing an additional 48 shares during the last quarter. Mascoma Wealth Management LLC raised its holdings in Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after purchasing an additional 50 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in Adobe during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $0.71 during midday trading on Friday, reaching $383.28. 2,030,646 shares of the company were exchanged, compared to its average volume of 3,440,824. The stock's 50-day moving average price is $379.67 and its 200-day moving average price is $436.43. The stock has a market cap of $163.35 billion, a P/E ratio of 30.91, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for 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 earnings per share. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of a number of analyst reports. KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. JPMorgan Chase & Co. cut their price target on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Oppenheimer cut their price target on Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, Wells Fargo & Company dropped their target price on Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $502.88.

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.