Silicon Valley Capital Partners Has $1.25 Million Stock Position in Adobe Inc. $ADBE

Key Points

• Silicon Valley Capital Partners reduced its stake in Adobe Inc. by 45.8%, now holding shares valued at approximately $1.25 million.
• Institutional investors collectively own 81.79% of Adobe's stock, with recent activity including increased stakes from Brighton Jones LLC and Bank Pictet & Cie Europe AG.
• Adobe's consensus rating is a "Moderate Buy" with a target price of $446.74, despite recent price target reductions from several analysts following earnings performance.

Silicon Valley Capital Partners lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 45.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,234 shares of the software company's stock after selling 2,738 shares during the quarter. Silicon Valley Capital Partners' holdings in Adobe were worth $1,247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after acquiring an additional 167 shares during the period. Bank Pictet & Cie Europe AG increased its stake in Adobe by 2.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after purchasing an additional 756 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in Adobe in the fourth quarter worth $40,000. Numerai GP LLC bought a new position in shares of Adobe during the fourth quarter worth $2,357,000. Finally, Northeast Financial Consultants Inc grew its holdings in shares of Adobe by 7.8% in the 4th quarter. Northeast Financial Consultants Inc now owns 2,061 shares of the software company's stock valued at $916,000 after buying an additional 150 shares during the period. Institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the topic of several research analyst reports. UBS Group dropped their price objective on Adobe from $430.00 to $400.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. Oppenheimer dropped their price target on Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research report on Tuesday. Citigroup cut their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Royal Bank Of Canada lowered their target price on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and dropped their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and a consensus target price of $446.74.

Adobe Price Performance

NASDAQ ADBE opened at $350.16 on Thursday. The firm's 50 day moving average is $358.50 and its 200-day moving average is $381.10. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $148.54 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.48. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the firm earned $4.48 earnings per share. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities 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.

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