Sivia Capital Partners LLC Has $499,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Sivia Capital Partners LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,123 shares of the software company’s stock after selling 243 shares during the quarter. Sivia Capital Partners LLC’s holdings in Adobe were worth $499,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ADBE. Fulcrum Capital LLC lifted its position in Adobe by 2.9% during the fourth quarter. Fulcrum Capital LLC now owns 25,433 shares of the software company’s stock worth $11,310,000 after acquiring an additional 723 shares during the last quarter. Forza Wealth Management LLC lifted its holdings in Adobe by 6.5% during the 4th quarter. Forza Wealth Management LLC now owns 637 shares of the software company’s stock worth $283,000 after purchasing an additional 39 shares during the last quarter. Cooper Financial Group boosted its position in shares of Adobe by 12.1% in the fourth quarter. Cooper Financial Group now owns 3,634 shares of the software company’s stock valued at $1,616,000 after acquiring an additional 393 shares during the period. Kieckhefer Group LLC acquired a new position in shares of Adobe in the fourth quarter valued at about $44,000. Finally, Trust Co. of Toledo NA OH increased its position in Adobe by 3.3% during the fourth quarter. Trust Co. of Toledo NA OH now owns 3,350 shares of the software company’s stock worth $1,490,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock traded up $2.55 during trading hours on Monday, hitting $408.47. 2,900,245 shares of the company’s stock traded hands, compared to its average volume of 4,024,452. The stock has a market capitalization of $179.81 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 2.51 and a beta of 1.31. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a fifty day simple moving average of $484.01 and a 200-day simple moving average of $517.00.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the firm posted $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,293 shares of company stock worth $1,679,809 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Oppenheimer cut their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada cut their price target on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $575.85.

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.