Sivia Capital Partners LLC Lowers Position in Adobe Inc. (NASDAQ:ADBE)

Sivia Capital Partners LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,123 shares of the software company’s stock after selling 243 shares during the quarter. Sivia Capital Partners LLC’s holdings in Adobe were worth $499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. International Assets Investment Management LLC boosted its holdings in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after purchasing an additional 1,376,333 shares during the period. Longview Partners Guernsey LTD bought a new stake in Adobe in the second quarter valued at $663,745,000. FMR LLC increased its position in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Adobe by 982.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after purchasing an additional 491,627 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of Adobe in the 3rd quarter worth about $126,703,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 3,293 shares of company stock worth $1,679,809. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADBE. Wells Fargo & Company decreased their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. UBS Group dropped their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Bank of America cut their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe Trading Up 0.6 %

Shares of ADBE stock traded up $2.55 on Monday, reaching $408.47. 2,900,245 shares of the company’s stock were exchanged, compared to its average volume of 4,024,452. The company’s fifty day simple moving average is $484.01 and its 200 day simple moving average is $517.00. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $179.81 billion, a PE ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the business posted $3.52 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts forecast that Adobe Inc. will post 16.73 EPS for the current year.

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.