Ring Mountain Capital LLC Takes $225,000 Position in Adobe Inc. (NASDAQ:ADBE)

Ring Mountain Capital LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 505 shares of the software company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Torray Investment Partners LLC lifted its holdings in shares of Adobe by 1.6% during the 4th quarter. Torray Investment Partners LLC now owns 13,617 shares of the software company’s stock valued at $6,055,000 after buying an additional 215 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Adobe by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company’s stock valued at $1,249,066,000 after buying an additional 92,458 shares during the period. NBW Capital LLC bought a new position in shares of Adobe during the 4th quarter valued at $1,465,000. Bedel Financial Consulting Inc. lifted its holdings in shares of Adobe by 3.5% during the 4th quarter. Bedel Financial Consulting Inc. now owns 1,468 shares of the software company’s stock valued at $642,000 after buying an additional 49 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in Adobe by 1.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 33,372 shares of the software company’s stock worth $14,840,000 after purchasing an additional 608 shares during the period. 81.79% of the stock is owned by institutional investors.

Adobe Trading Up 0.5 %

ADBE opened at $440.72 on Tuesday. The firm has a market cap of $191.85 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $439.59 and a 200 day moving average of $489.79.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $3.52 earnings per share. As a group, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus decreased their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Mizuho decreased their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. BMO Capital Markets decreased their target price on Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Insiders Place Their Bets

In other Adobe news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was 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 directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 over the last 90 days. Insiders own 0.15% of the company’s stock.

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.