Seaview Investment Managers LLC Purchases 3,906 Shares of Adobe Inc. (NASDAQ:ADBE)

Seaview Investment Managers LLC increased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,631 shares of the software company's stock after acquiring an additional 3,906 shares during the quarter. Adobe accounts for approximately 2.5% of Seaview Investment Managers LLC's portfolio, making the stock its 24th largest position. Seaview Investment Managers LLC's holdings in Adobe were worth $9,174,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. M&T Bank Corp grew its position in Adobe by 3.9% in the 3rd quarter. M&T Bank Corp now owns 156,198 shares of the software company's stock valued at $80,876,000 after purchasing an additional 5,905 shares during the period. Virtu Financial LLC bought a new position in shares of Adobe in the third quarter valued at $4,167,000. Morse Asset Management Inc grew its holdings in shares of Adobe by 32.6% during the third quarter. Morse Asset Management Inc now owns 8,494 shares of the software company's stock valued at $4,398,000 after buying an additional 2,088 shares during the last quarter. Te Ahumairangi Investment Management Ltd increased its position in shares of Adobe by 12.9% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 4,455 shares of the software company's stock worth $2,294,000 after acquiring an additional 510 shares in the last quarter. Finally, Anchor Investment Management LLC raised its holdings in shares of Adobe by 1.6% in the 3rd quarter. Anchor Investment Management LLC now owns 16,261 shares of the software company's stock worth $8,420,000 after acquiring an additional 255 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Activity

In related news, Director David A. Ricks bought 2,250 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares of the company's stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn purchased 1,300 shares of the business's stock in a transaction on Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 5,075 shares of company stock worth $2,191,826 in the last three months. Corporate insiders own 0.16% of the company's stock.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $8.95 during mid-day trading on Thursday, hitting $360.91. The company had a trading volume of 3,080,378 shares, compared to its average volume of 3,424,974. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a market capitalization of $153.82 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 2.15 and a beta of 1.49. The stock's 50-day moving average price is $396.80 and its 200-day moving average price is $447.18.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the firm earned $4.48 EPS. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADBE. Royal Bank of Canada decreased their price objective on Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a report on Monday, April 14th. UBS Group lowered their price target on Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Oppenheimer cut their price objective on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. BMO Capital Markets lowered their target price on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Finally, Bank of America cut their price target on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.

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.