Pacifica Partners Inc. Raises Holdings in Adobe Inc. (NASDAQ:ADBE)

Pacifica Partners Inc. boosted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 193.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,138 shares of the software company's stock after buying an additional 750 shares during the period. Pacifica Partners Inc.'s holdings in Adobe were worth $418,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH lifted its position in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares during the period. SWAN Capital LLC acquired a new position in shares of Adobe during the fourth quarter valued at about $28,000. Copia Wealth Management acquired a new position in shares of Adobe during the fourth quarter valued at about $28,000. Summit Securities Group LLC bought a new position in shares of Adobe during the 4th quarter worth about $31,000. Finally, Caitlin John LLC grew its stake in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after buying an additional 48 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This represents a 4.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADBE shares. Mizuho dropped their price target on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets dropped their price target on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus cut 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. Oppenheimer decreased their price objective on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley dropped their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Adobe Price Performance

ADBE stock traded up $1.89 during midday trading on Wednesday, reaching $414.38. The company had a trading volume of 996,157 shares, compared to its average volume of 3,410,674. The firm has a 50-day moving average price of $379.54 and a 200-day moving average price of $426.47. The company has a market capitalization of $176.61 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the firm posted $4.48 EPS. On average, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe 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.