Fairvoy Private Wealth LLC Purchases 1,759 Shares of Adobe Inc. (NASDAQ:ADBE)

Fairvoy Private Wealth LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 35.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,786 shares of the software company's stock after buying an additional 1,759 shares during the quarter. Fairvoy Private Wealth LLC's holdings in Adobe were worth $2,602,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Siemens Fonds Invest GmbH boosted its position in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new stake in shares of Adobe during the fourth quarter valued at approximately $28,000. Copia Wealth Management bought a new stake in shares of Adobe during the fourth quarter valued at approximately $28,000. Summit Securities Group LLC purchased a new position in Adobe during the fourth quarter valued at $31,000. Finally, Bernard Wealth Management Corp. purchased a new position in Adobe during the fourth quarter valued at $36,000. 81.79% of the stock is currently owned by institutional investors.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Mizuho lowered their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research note on Friday. UBS Group lifted their price objective on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research note on Monday, June 9th. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Oppenheimer lowered their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Evercore ISI reiterated an "outperform" rating and set a $475.00 price objective on shares of Adobe in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Adobe has an average rating of "Moderate Buy" and an average price target of $494.67.

Adobe Stock Performance

NASDAQ:ADBE traded down $22.00 during mid-day trading on Friday, hitting $391.68. 10,618,205 shares of the company traded hands, compared to its average volume of 3,381,385. The stock's fifty day moving average price is $386.76 and its 200-day moving average price is $421.08. 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. The firm has a market cap of $166.93 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the company posted $4.48 earnings per share. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.