Vista Investment Management Has $389,000 Position in Adobe Inc. (NASDAQ:ADBE)

Vista Investment Management lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 875 shares of the software company’s stock after acquiring an additional 26 shares during the quarter. Vista Investment Management’s holdings in Adobe were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ADBE. Siemens Fonds Invest GmbH raised its position in 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 buying an additional 39,888 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Adobe in the 4th quarter valued at approximately $31,000. Caitlin John LLC raised its position in Adobe by 171.4% in the 4th 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. Avion Wealth raised its position in Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after buying an additional 46 shares during the last quarter. Finally, Mascoma Wealth Management LLC raised its position in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent research reports. Jefferies Financial Group dropped 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, March 31st. BMO Capital Markets decreased their price target on Adobe from $495.00 to $450.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Summit Redstone set a $410.00 price target on Adobe in a research note on Wednesday, March 19th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company decreased their price target on Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.88.

Adobe Price Performance

Shares of ADBE opened at $420.68 on Tuesday. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The business has a 50-day simple moving average of $375.32 and a two-hundred day simple moving average of $433.19. 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 market cap of $179.29 billion, a PE ratio of 33.93, a PEG ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share 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 company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the prior year, the firm posted $4.48 earnings per share. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

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.