Chapman Investment Management LLC Purchases 35 Shares of Adobe Inc. (NASDAQ:ADBE)

Chapman Investment Management LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,480 shares of the software company’s stock after purchasing an additional 35 shares during the quarter. Adobe comprises 2.9% of Chapman Investment Management LLC’s holdings, making the stock its 16th biggest position. Chapman Investment Management LLC’s holdings in Adobe were worth $3,866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC increased its stake in shares of Adobe by 83.9% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 7,611 shares of the software company’s stock valued at $4,541,000 after acquiring an additional 3,472 shares during the last quarter. Overbrook Management Corp increased its stake in shares of Adobe by 50.0% in the 4th quarter. Overbrook Management Corp now owns 600 shares of the software company’s stock valued at $358,000 after acquiring an additional 200 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in shares of Adobe by 4.2% in the 4th quarter. Motley Fool Asset Management LLC now owns 13,858 shares of the software company’s stock valued at $8,268,000 after acquiring an additional 555 shares during the last quarter. Evolution Advisers Inc. increased its stake in shares of Adobe by 14.3% in the 4th quarter. Evolution Advisers Inc. now owns 136 shares of the software company’s stock valued at $79,000 after acquiring an additional 17 shares during the last quarter. Finally, Wisconsin Capital Management LLC increased its stake in shares of Adobe by 1.5% in the 4th quarter. Wisconsin Capital Management LLC now owns 10,309 shares of the software company’s stock valued at $6,150,000 after acquiring an additional 150 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 0.9 %

Shares of NASDAQ ADBE traded up $4.12 during trading hours on Friday, hitting $477.56. The company had a trading volume of 2,460,261 shares, compared to its average volume of 2,815,745. The stock has a market capitalization of $213.95 billion, a P/E ratio of 45.66, a price-to-earnings-growth ratio of 2.56 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Adobe Inc. has a 1-year low of $331.89 and a 1-year high of $638.25. The firm’s 50 day moving average is $515.34 and its 200-day moving average is $564.33.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.38 by $0.10. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm posted $2.97 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts expect that Adobe Inc. will post 14.55 earnings per share for the current fiscal year.

Adobe declared that its board has authorized a stock repurchase program on Thursday, March 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. KeyCorp assumed coverage on Adobe in a research note on Thursday, March 21st. They issued an “underweight” rating and a $445.00 price target for the company. Mizuho reaffirmed a “buy” rating and issued a $680.00 price target on shares of Adobe in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lowered their target price on Adobe from $600.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Evercore ISI reissued an “outperform” rating and set a $650.00 target price on shares of Adobe in a research note on Wednesday, March 27th. Finally, BNP Paribas cut Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 target price for the company. in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average target price of $620.72.

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,940,160. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Adobe news, insider Anil Chakravarthy sold 100 shares of the stock in a transaction 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 approximately $15,829,839. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 96 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,940,160. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293 shares of company stock worth $137,656. Company insiders own 0.15% of the company’s stock.

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.