Generali Investments CEE investicni spolecnost a.s. Buys 1,297 Shares of Adobe Inc. (NASDAQ:ADBE)

Generali Investments CEE investicni spolecnost a.s. grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,675 shares of the software company's stock after acquiring an additional 1,297 shares during the period. Generali Investments CEE investicni spolecnost a.s.'s holdings in Adobe were worth $3,711,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Adobe during the fourth quarter worth about $2,553,035,000. GAMMA Investing LLC raised its position in shares of Adobe by 46,806.6% in the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock valued at $1,147,049,000 after buying an additional 2,984,391 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Adobe by 82.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock valued at $937,291,000 after buying an additional 952,233 shares in the last quarter. Two Sigma Advisers LP raised its position in Adobe by 1,414.5% during the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after purchasing an additional 830,300 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Adobe during the fourth quarter valued at approximately $365,750,000. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $1.09 during midday trading on Friday, hitting $379.56. 2,863,680 shares of the stock traded hands, compared to its average volume of 3,432,840. The firm has a 50-day moving average of $396.09 and a two-hundred day moving average of $408.27. The firm has a market capitalization of $161.01 billion, a P/E ratio of 24.28, a PEG ratio of 1.80 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. 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 analyst estimates of $5.80 billion. During the same quarter in the prior year, the business posted $4.48 EPS. Adobe's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several analyst reports. Mizuho reduced their price objective on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. DA Davidson reissued a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, June 20th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Jefferies Financial Group lowered their target price on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Stifel Nicolaus lowered their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $480.08.

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.