Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Seilern Investment Management Ltd

Seilern Investment Management Ltd lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 250,794 shares of the software company's stock after acquiring an additional 1,753 shares during the period. Adobe makes up about 6.3% of Seilern Investment Management Ltd's investment portfolio, making the stock its 8th biggest position. Seilern Investment Management Ltd owned 0.06% of Adobe worth $96,187,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Revolve Wealth Partners LLC lifted its holdings in shares of Adobe by 8.5% during the first quarter. Revolve Wealth Partners LLC now owns 1,416 shares of the software company's stock valued at $543,000 after acquiring an additional 111 shares during the period. Wedmont Private Capital increased its position in shares of Adobe by 2.2% during the 1st quarter. Wedmont Private Capital now owns 5,439 shares of the software company's stock worth $1,917,000 after purchasing an additional 119 shares in the last quarter. UMB Bank n.a. increased its position in shares of Adobe by 133.6% during the 1st quarter. UMB Bank n.a. now owns 23,657 shares of the software company's stock worth $9,073,000 after purchasing an additional 13,531 shares in the last quarter. Perennial Advisors LLC lifted its holdings in Adobe by 3.4% during the 1st quarter. Perennial Advisors LLC now owns 10,376 shares of the software company's stock valued at $3,980,000 after purchasing an additional 345 shares during the last quarter. Finally, Eagle Wealth Strategies LLC boosted its position in Adobe by 27.8% in the first quarter. Eagle Wealth Strategies LLC now owns 892 shares of the software company's stock valued at $342,000 after buying an additional 194 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Transactions at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction dated 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 completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Adobe Trading Down 0.2%

Adobe stock traded down $0.66 during midday trading on Monday, hitting $416.26. 3,032,627 shares of the stock were exchanged, compared to its average volume of 3,407,987. Adobe Inc. has a 52 week low of $332.01 and a 52 week 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 stock has a market capitalization of $177.41 billion, a PE ratio of 33.57, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a fifty day simple moving average of $381.41 and a two-hundred day simple moving average of $424.16.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during 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 quarter in the previous year, the business earned $4.48 EPS. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Robert W. Baird dropped their price target on Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. BMO Capital Markets cut their price objective on Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, UBS Group raised their target price on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research note on Monday. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $504.81.

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.