SevenBridge Financial Group LLC Has $480,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

SevenBridge Financial Group LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,046 shares of the software company’s stock after selling 55 shares during the period. SevenBridge Financial Group LLC’s holdings in Adobe were worth $480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OneAscent Financial Services LLC lifted its stake in Adobe by 25.3% in the fourth quarter. OneAscent Financial Services LLC now owns 1,034 shares of the software company’s stock valued at $460,000 after acquiring an additional 209 shares during the last quarter. Private Portfolio Partners LLC lifted its stake in shares of Adobe by 3.9% in the 4th quarter. Private Portfolio Partners LLC now owns 929 shares of the software company’s stock valued at $413,000 after purchasing an additional 35 shares during the last quarter. Wisconsin Capital Management LLC boosted its holdings in Adobe by 0.7% in the fourth quarter. Wisconsin Capital Management LLC now owns 10,175 shares of the software company’s stock worth $4,525,000 after purchasing an additional 66 shares in the last quarter. Potomac Fund Management Inc. ADV acquired a new position in Adobe during the fourth quarter worth $223,000. Finally, Discovery Capital Management LLC CT raised its holdings in Adobe by 147.0% during the fourth quarter. Discovery Capital Management LLC CT now owns 61,500 shares of the software company’s stock valued at $27,348,000 after buying an additional 36,600 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last three months. 0.16% of the stock is owned by corporate insiders.

Adobe Price Performance

Shares of ADBE stock opened at $385.78 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s fifty day simple moving average is $428.78 and its 200 day simple moving average is $465.84. Adobe Inc. has a one year low of $370.95 and a one year high of $587.75. The firm has a market cap of $164.42 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 2.15 and a beta of 1.37.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ADBE shares. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Robert W. Baird decreased their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Redburn Atlantic started coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $531.54.

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.