Sivia Capital Partners LLC Buys 128 Shares of Adobe Inc. (NASDAQ:ADBE)

Sivia Capital Partners LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 11.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,238 shares of the software company’s stock after purchasing an additional 128 shares during the period. Sivia Capital Partners LLC’s holdings in Adobe were worth $688,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Tradewinds Capital Management LLC boosted its stake in shares of Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Adobe during the 2nd quarter worth $33,000. Steph & Co. raised its position in shares of Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Adobe in the 2nd quarter valued at $39,000. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ADBE. StockNews.com cut Adobe from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Adobe in a research note on Thursday, August 1st. Citigroup reduced their price objective on shares of Adobe from $554.00 to $529.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. Melius Research reaffirmed a “hold” rating and issued a $510.00 target price on shares of Adobe in a research note on Monday, June 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $605.52.

Insider Activity

In other news, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the sale, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the transaction, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 264 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the completion of the sale, the chief accounting officer now owns 2,740 shares in the company, valued at approximately $1,439,897.40. The disclosure for this sale can be found here. Insiders sold a total of 27,523 shares of company stock valued at $14,994,277 in the last quarter. Company insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.8 %

Shares of NASDAQ:ADBE opened at $563.41 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50-day moving average price is $553.72 and its two-hundred day moving average price is $519.38. The stock has a market capitalization of $249.82 billion, a PE ratio of 50.62, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the company earned $3.04 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts forecast that Adobe Inc. will post 14.69 EPS for the current fiscal 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.