Settian Capital LP Has $3.65 Million Position in Adobe Inc. (NASDAQ:ADBE)

Settian Capital LP raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 17.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,200 shares of the software company’s stock after purchasing an additional 1,200 shares during the period. Adobe accounts for about 2.6% of Settian Capital LP’s holdings, making the stock its 12th biggest position. Settian Capital LP’s holdings in Adobe were worth $3,646,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ADBE. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe during the 3rd quarter valued at $26,000. Groupama Asset Managment boosted its stake in shares of 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 buying an additional 11,522 shares during the period. True Wealth Design LLC boosted its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the period. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the 4th quarter valued at $31,000. Finally, Caitlin John LLC lifted its stake in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. UBS Group set a $495.00 price objective on shares of Adobe in a research note on Thursday, March 13th. Piper Sandler reduced their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Finally, Redburn Atlantic assumed coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $538.80.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 922 shares of the business’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 transaction, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $387.89 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50-day simple moving average is $435.13 and its 200-day simple moving average is $478.38. Adobe Inc. has a twelve month low of $374.50 and a twelve month high of $587.75. The firm has a market cap of $168.89 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

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

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.