F M Investments LLC Has $3.23 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

F M Investments LLC cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,465 shares of the software company’s stock after selling 1,092 shares during the quarter. Adobe makes up about 1.8% of F M Investments LLC’s holdings, making the stock its 18th biggest position. F M Investments LLC’s holdings in Adobe were worth $3,234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. One Charles Private Wealth Services LLC raised its holdings in shares of Adobe by 2.2% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock worth $400,000 after acquiring an additional 17 shares in the last quarter. Invst LLC raised its holdings in Adobe by 1.9% during the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after buying an additional 17 shares during the period. Raleigh Capital Management Inc. grew its position in Adobe by 3.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after acquiring an additional 17 shares during the last quarter. Lantz Financial LLC grew its position in Adobe by 2.5% in the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock valued at $411,000 after acquiring an additional 17 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management grew its position in Adobe by 4.3% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after acquiring an additional 17 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other news, insider Anil Chakravarthy sold 100 shares of Adobe stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now directly owns 33,609 shares of the company’s stock, valued at $15,829,839. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Anil Chakravarthy sold 100 shares of Adobe stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total transaction of $47,100.00. Following the transaction, the insider now owns 33,609 shares in the company, valued at $15,829,839. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the transaction, the executive vice president now owns 23,508 shares in the company, valued at approximately $14,144,998.68. The disclosure for this sale can be found here. Insiders have sold 3,175 shares of company stock valued at $1,895,518 over the last ninety days. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ADBE shares. Wells Fargo & Company cut their price objective on Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. HSBC dropped their price target on Adobe from $557.00 to $511.00 and set a “hold” rating on the stock in a research report on Friday, March 15th. DA Davidson reissued a “buy” rating and set a $685.00 price target on shares of Adobe in a research report on Thursday, March 28th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, March 28th. Finally, Bank of America decreased their price target on Adobe from $700.00 to $640.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Price Performance

ADBE traded up $6.01 during trading on Tuesday, hitting $472.90. The company’s stock had a trading volume of 2,200,448 shares, compared to its average volume of 3,540,307. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $521.61 and its 200 day simple moving average is $565.95. The firm has a market capitalization of $211.86 billion, a price-to-earnings ratio of 45.21, a P/E/G ratio of 2.52 and a beta of 1.28. Adobe Inc. has a twelve month low of $331.89 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 earnings per share. On average, equities research analysts forecast that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe declared that its Board of Directors has approved a share buyback program on Thursday, March 14th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the software company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.