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

Atala Financial Inc increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 113.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,961 shares of the software company's stock after purchasing an additional 1,043 shares during the period. Atala Financial Inc's holdings in Adobe were worth $752,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Siemens Fonds Invest GmbH lifted its holdings in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares in the last quarter. SWAN Capital LLC purchased a new position in shares of Adobe in the 4th quarter valued at $28,000. Copia Wealth Management purchased a new position in Adobe during the 4th quarter worth $28,000. Summit Securities Group LLC purchased a new position in Adobe during the 4th quarter worth $31,000. Finally, Garde Capital Inc. purchased a new position in Adobe during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of Adobe stock traded up $0.88 during trading on Friday, hitting $385.83. 5,081,963 shares of the company were exchanged, compared to its average volume of 3,406,087. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market capitalization of $163.67 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 1.82 and a beta of 1.55. The firm has a 50 day moving average price of $393.23 and a 200 day moving average price of $411.65.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the firm posted $4.48 EPS. The company's quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. BMO Capital Markets reissued an "outperform" rating and set a $450.00 price objective on shares of Adobe in a research report on Friday, June 13th. Wells Fargo & Company reissued an "overweight" rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Morgan Stanley lowered their price objective on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Evercore ISI reissued an "outperform" rating and set a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $496.75.

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.