Sivia Capital Partners LLC Has $732,000 Position in Adobe Inc. (NASDAQ:ADBE)

Sivia Capital Partners LLC grew its position in Adobe Inc. (NASDAQ:ADBE) by 69.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,908 shares of the software company’s stock after buying an additional 785 shares during the quarter. Sivia Capital Partners LLC’s holdings in Adobe were worth $732,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Adobe by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock valued at $4,739,788,000 after buying an additional 151,286 shares in the last quarter. Norges Bank bought a new stake in shares of Adobe during the 4th quarter valued at approximately $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Adobe by 12.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company’s stock valued at $2,375,345,000 after purchasing an additional 600,146 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock valued at $2,363,125,000 after purchasing an additional 672,919 shares during the last quarter. Finally, Edgewood Management LLC grew its holdings in shares of Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company’s stock valued at $1,805,009,000 after purchasing an additional 696,172 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADBE. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Wells Fargo & Company decreased their price target on shares of Adobe from $600.00 to $430.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus decreased their price target on shares of Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Bank of America reduced their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Finally, BMO Capital Markets decreased their price target on shares of Adobe from $495.00 to $450.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $502.88.

Insider Transactions at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Adobe Trading Up 0.4%

ADBE opened at $416.92 on Friday. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $381.41 and a 200-day moving average of $424.72. The stock has a market cap of $177.69 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the prior year, the company posted $4.48 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 16.65 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.