Fjell Capital LLC Has $1.09 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Fjell Capital LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,846 shares of the software company's stock after selling 605 shares during the period. Fjell Capital LLC's holdings in Adobe were worth $1,092,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Siemens Fonds Invest GmbH raised its holdings in shares of Adobe by 252.9% in the 4th 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 during the period. SWAN Capital LLC acquired a new position in Adobe during the fourth quarter worth approximately $28,000. Copia Wealth Management bought a new stake in Adobe in the fourth quarter valued at approximately $28,000. Summit Securities Group LLC acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. Finally, Caitlin John LLC lifted its position in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after buying an additional 48 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Up 0.3%

ADBE stock opened at $415.20 on Friday. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The business has a 50-day simple moving average of $380.73 and a 200 day simple moving average of $425.81. 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 company has a market cap of $176.96 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADBE. JPMorgan Chase & Co. dropped their price target on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets decreased their price objective on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley cut their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Evercore ISI decreased their price target on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, Robert W. Baird lowered their price target on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $502.88.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

About Adobe

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.

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