Is Adobe Systems Incorporated (ADBE) A Good Stock To Buy?

Consequently, key hedge funds were leading the bulls’ herd. Eton Park Capital, managed by Eric Mindich, assembled the largest call position in Adobe Systems Incorporated (NASDAQ:ADBE). Eton Park Capital had $300.1 million invested in the company at the end of the quarter. Gabriel Plotkin’s Melvin Capital Management also made a $26.7 million investment in the stock during the quarter. The other funds with brand new ADBE positions are Benjamin A. Smith’s Laurion Capital Management and Alex Sacerdote’s Whale Rock Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Adobe Systems Incorporated (NASDAQ:ADBE) but similarly valued. These stocks are FedEx Corporation (NYSE:FDX), The Southern Company (NYSE:SO), Carnival Corporation (NYSE:CCL), and Itau Unibanco Holding SA (ADR) (NYSE:ITUB). All of these stocks’ market caps resemble ADBE’s market cap.

As you can see these stocks had an average of 35 hedge funds with bullish positions and the average amount invested in these stocks was $1.72 billion. That figure was $4.07 billion in ADBE’s case. FedEx Corporation (NYSE:FDX) is the most popular stock in this table. On the other hand The Southern Company (NYSE:SO) is the least popular one with only 17 bullish hedge fund positions. Adobe Systems Incorporated (NASDAQ:ADBE) is not the most popular stock in this group, but hedge fund interest is still above average, which might suggest that the stock may be an interesting investment. However, more research is required in order to get a clearer picture of the company’s performance.