Atala Financial Inc Boosts Stock Position in Adobe Inc. (NASDAQ:ADBE)

Atala Financial Inc raised its stake in Adobe Inc. (NASDAQ:ADBE) by 113.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,961 shares of the software company’s stock after purchasing an additional 1,043 shares during the quarter. Atala Financial Inc’s holdings in Adobe were worth $752,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sepio Capital LP raised its stake in shares of Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after buying an additional 22 shares in the last quarter. Cadence Bank boosted its position in shares of Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock valued at $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC boosted its position in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock valued at $651,000 after purchasing an additional 22 shares during the period. RB Capital Management LLC increased its stake in Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock worth $2,198,000 after purchasing an additional 22 shares in the last quarter. Finally, Orin Green Financial LLC raised its holdings in Adobe by 3.8% during the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock worth $276,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ADBE shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $480.00 target price on shares of Adobe in a report on Thursday, June 5th. UBS Group raised their price objective on shares of Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. Morgan Stanley cut their target price on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Oppenheimer decreased their target price on Adobe from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday, June 13th. Finally, Piper Sandler dropped their price target on Adobe from $600.00 to $500.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $496.75.

Adobe Stock Up 1.4%

Shares of ADBE opened at $387.55 on Thursday. The company has a market capitalization of $165.17 billion, a P/E ratio of 24.80, a PEG ratio of 1.81 and a beta of 1.55. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The business’s 50 day simple moving average is $391.76 and its 200-day simple moving average is $413.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the previous year, the business posted $4.48 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.