Islay Capital Management LLC Has $47,000 Position in Adobe Inc. (NASDAQ:ADBE)

Islay Capital Management LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 250.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105 shares of the software company’s stock after acquiring an additional 75 shares during the quarter. Islay Capital Management LLC’s holdings in Adobe were worth $47,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after buying an additional 33,414 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after acquiring an additional 570 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Adobe by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after purchasing an additional 1,326 shares during the period. M. Kraus & Co bought a new position in shares of Adobe during the 4th quarter valued at about $3,285,000. Finally, Silicon Valley Capital Partners grew its position in shares of Adobe by 4.1% in the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock valued at $2,656,000 after purchasing an additional 236 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 5.0 %

Shares of NASDAQ:ADBE opened at $349.07 on Friday. Adobe Inc. has a 12-month low of $348.80 and a 12-month high of $587.75. The stock has a market cap of $148.77 billion, a PE ratio of 28.15, a P/E/G ratio of 2.15 and a beta of 1.49. The business has a 50 day moving average of $425.66 and a 200-day moving average of $463.96. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations 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 firm posted $4.48 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks acquired 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

ADBE has been the topic of a number of research reports. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Evercore ISI lowered their target price on Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a report on Wednesday, January 15th. Jefferies Financial Group decreased their price objective on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Summit Redstone set a $410.00 target price on Adobe in a research note on Wednesday, March 19th. Eleven equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $531.54.

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.