Sapient Capital LLC Has $1.78 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Sapient Capital LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 92.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,628 shares of the software company's stock after selling 53,365 shares during the quarter. Sapient Capital LLC's holdings in Adobe were worth $1,775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Siemens Fonds Invest GmbH lifted its stake in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after buying an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new position in Adobe in the fourth quarter valued at approximately $28,000. Copia Wealth Management bought a new position in Adobe in the fourth quarter valued at approximately $28,000. Summit Securities Group LLC bought a new position in Adobe in the fourth quarter valued at approximately $31,000. Finally, Bernard Wealth Management Corp. bought a new position in Adobe in the fourth quarter valued at approximately $36,000. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADBE shares. Citigroup lifted their price target on shares of Adobe from $430.00 to $465.00 and gave the company a "neutral" rating in a research note on Tuesday. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday. Morgan Stanley lowered their price objective on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Summit Redstone set a $410.00 price objective on shares of Adobe in a report on Wednesday, March 19th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $494.67.

Insider Activity

In related news, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Adobe Stock Down 5.3%

ADBE traded down $22.00 during trading on Friday, reaching $391.68. 10,618,205 shares of the stock were exchanged, compared to its average volume of 3,427,246. The stock has a market cap of $166.93 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The stock's 50 day moving average price is $386.76 and its two-hundred day moving average price is $421.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $4.48 earnings per share. Equities analysts expect 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.