May Hill Capital LLC Invests $780,000 in Adobe Inc. (NASDAQ:ADBE)

May Hill Capital LLC purchased a new stake in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,755 shares of the software company’s stock, valued at approximately $780,000.

Several other large investors have also recently bought and sold shares of ADBE. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the 3rd quarter worth approximately $26,000. Groupama Asset Managment raised its position in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares during the period. Decker Retirement Planning Inc. bought a new position in shares of Adobe in the 4th quarter valued at about $31,000. Finally, Summit Securities Group LLC acquired a new stake in Adobe during the 4th quarter worth $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 0.6 %

NASDAQ:ADBE opened at $383.53 on Tuesday. The company’s 50-day simple moving average is $430.88 and its 200-day simple moving average is $467.49. The stock has a market capitalization of $163.46 billion, a P/E ratio of 30.93, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the company earned $4.48 earnings per share. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Ricks acquired 2,250 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 in the last three months. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ADBE. Redburn Atlantic started coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Jefferies Financial Group decreased their target price on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer lowered their target price on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $531.54.

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.