Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Sivia Capital Partners LLC

Sivia Capital Partners LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 69.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Copia Wealth Management bought a new position in Adobe in the 4th quarter worth approximately $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter valued at $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the fourth quarter worth $31,000. Bernard Wealth Management Corp. acquired a new position in shares of Adobe during the fourth quarter valued at $36,000. Finally, Mascoma Wealth Management LLC boosted its holdings in Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Buying and Selling

In related news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were acquired 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 owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of several analyst reports. Piper Sandler cut their target price on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group reduced their target price on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company lowered their price target on Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Citigroup lifted their price objective on Adobe from $430.00 to $465.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $503.33.

Adobe Stock Down 0.8%

Shares of ADBE traded down $3.19 during mid-day trading on Wednesday, hitting $412.87. The company's stock had a trading volume of 2,665,396 shares, compared to its average volume of 3,405,253. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company's 50-day moving average is $382.99 and its 200-day moving average is $423.44. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The firm has a market capitalization of $175.96 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 2.15 and a beta of 1.55.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the firm earned $4.48 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

About Adobe

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.