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

Atala Financial Inc raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 113.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,961 shares of the software company’s stock after acquiring an additional 1,043 shares during the quarter. Atala Financial Inc’s holdings in Adobe were worth $752,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after buying an additional 167 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock worth $12,882,000 after purchasing an additional 756 shares in the last quarter. IFP Advisors Inc grew its position in shares of Adobe by 9.6% in the fourth quarter. IFP Advisors Inc now owns 5,736 shares of the software company’s stock valued at $2,553,000 after purchasing an additional 502 shares in the last quarter. GHE LLC increased its holdings in shares of Adobe by 2.9% in the fourth quarter. GHE LLC now owns 23,577 shares of the software company’s stock valued at $10,484,000 after purchasing an additional 670 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its position in Adobe by 54.6% during the fourth quarter. Impax Asset Management Group plc now owns 2,189 shares of the software company’s stock worth $973,000 after buying an additional 773 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Robert W. Baird raised their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Monday. Wells Fargo & Company reissued an “overweight” rating and issued a $470.00 price target (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Finally, Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $496.75.

Adobe Stock Performance

NASDAQ ADBE opened at $387.55 on Thursday. The company has a fifty day moving average of $391.76 and a two-hundred day moving average of $413.89. The company has a market capitalization of $165.17 billion, a PE ratio of 24.80, a P/E/G ratio of 1.81 and a beta of 1.55. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. 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, topping analysts’ consensus estimates of $4.97 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.48 EPS. As a group, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current 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.