Seed Wealth Management Inc. Increases Stake in Adobe Inc. (NASDAQ:ADBE)

Seed Wealth Management Inc. grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 738 shares of the software company’s stock after purchasing an additional 26 shares during the quarter. Seed Wealth Management Inc.’s holdings in Adobe were worth $328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Piscataqua Savings Bank grew its holdings in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the third quarter worth about $26,000. Groupama Asset Managment increased its holdings in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Adobe during the 3rd quarter valued at approximately $30,000. Finally, True Wealth Design LLC lifted its holdings in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and dropped their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, Mizuho decreased their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $575.85.

Insiders Place Their Bets

In related news, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,763 shares of company stock worth $893,665 over the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $408.50 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $179.82 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The firm’s 50 day moving average price is $482.55 and its 200-day moving average price is $516.02. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share 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 analysts’ expectations of $5.54 billion. During the same quarter last year, the company posted $3.52 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that Adobe Inc. will post 16.73 EPS for the current year.

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.