1,755 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by May Hill Capital LLC

May Hill Capital LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,755 shares of the software company's stock, valued at approximately $780,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Adobe during the fourth quarter worth $1,527,000. Boston Family Office LLC boosted its position in shares of Adobe by 0.8% during the 4th quarter. Boston Family Office LLC now owns 41,650 shares of the software company's stock valued at $18,521,000 after acquiring an additional 326 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Adobe by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock valued at $4,739,788,000 after purchasing an additional 151,286 shares during the period. Diametric Capital LP grew its holdings in shares of Adobe by 56.4% in the fourth quarter. Diametric Capital LP now owns 849 shares of the software company's stock valued at $378,000 after purchasing an additional 306 shares during the period. Finally, National Wealth Management Group LLC acquired a new stake in Adobe during the fourth quarter worth about $503,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Down 4.8 %

ADBE traded down $18.53 on Thursday, reaching $367.25. The company's stock had a trading volume of 5,310,208 shares, compared to its average volume of 3,336,620. The company has a market capitalization of $156.52 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 2.15 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $366.37 and a fifty-two week 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 stock has a 50 day moving average of $428.78 and a two-hundred day moving average of $465.84.

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

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm's 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 transaction, the chief accounting officer now directly owns 2,685 shares of the company's stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 922 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale 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 currently owned by company insiders.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. Wells Fargo & Company dropped their price target on shares of Adobe from $640.00 to $600.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Bank of America lowered their price objective on Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Citigroup reduced their target price on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Finally, TD Cowen lowered shares of Adobe from a "buy" rating to a "hold" rating and reduced their price objective for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $531.54.

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.