Haven Capital Group Inc. Purchases New Holdings in Adobe Inc. (NASDAQ:ADBE)

Haven Capital Group Inc. purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,348 shares of the software company’s stock, valued at approximately $3,268,000. Adobe accounts for approximately 3.1% of Haven Capital Group Inc.’s portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after acquiring an additional 33,414 shares in the last quarter. Arizona State Retirement System lifted its holdings in Adobe by 0.4% during the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after buying an additional 570 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after buying an additional 2,100 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after buying an additional 78,384 shares in the last quarter. Finally, Morse Asset Management Inc lifted its stake in shares of Adobe by 33.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after purchasing an additional 2,113 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In related 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the firm’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 sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $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 ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets lowered their price objective on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Bank of America lowered their price objective on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $540.60.

Adobe Trading Up 1.2 %

Adobe stock opened at $399.34 on Tuesday. The firm has a 50-day moving average of $436.39 and a 200-day moving average of $480.30. Adobe Inc. has a one year low of $374.50 and a one year high of $587.75. 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 company has a market cap of $173.88 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 2.15 and a beta of 1.37.

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