Seilern Investment Management Ltd Takes $110.74 Million Position in Adobe Inc. (NASDAQ:ADBE)

Seilern Investment Management Ltd purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 249,041 shares of the software company’s stock, valued at approximately $110,744,000. Adobe comprises 6.3% of Seilern Investment Management Ltd’s portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of ADBE. Legacy Investment Solutions LLC bought a new position in shares of Adobe during the 3rd quarter valued at approximately $26,000. Piscataqua Savings Bank grew its holdings in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Adobe in the third quarter worth $30,000. True Wealth Design LLC lifted its position 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 last quarter. Finally, Briaud Financial Planning Inc bought a new position in shares of Adobe during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,763 shares of company stock valued at $893,665 in the last 90 days. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent research reports. Citigroup dropped their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Barclays reduced their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Mizuho lowered their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Royal Bank of Canada decreased their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $573.00.

Adobe Price Performance

ADBE opened at $429.99 on Monday. The stock’s 50 day simple moving average is $476.55 and its 200 day simple moving average is $512.44. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11. The firm has a market cap of $189.28 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.52 earnings per share. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share 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.