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

Generali Investments CEE investicni spolecnost a.s. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 15.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,675 shares of the software company’s stock after acquiring an additional 1,297 shares during the quarter. Generali Investments CEE investicni spolecnost a.s.’s holdings in Adobe were worth $3,711,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ADBE. Siemens Fonds Invest GmbH increased its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after acquiring an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the first quarter worth about $26,000. SWAN Capital LLC bought a new stake in shares of Adobe in the fourth quarter worth about $28,000. Copia Wealth Management purchased a new stake in shares of Adobe in the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new position in Adobe during the fourth quarter valued at approximately $31,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Up 0.3%

Shares of ADBE opened at $379.56 on Friday. The firm has a market cap of $161.01 billion, a P/E ratio of 24.28, a PEG ratio of 1.80 and a beta of 1.51. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock’s 50 day moving average is $396.09 and its two-hundred day moving average is $408.27. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADBE. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Rothschild & Co Redburn cut Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price for the company. in a report on Wednesday. Summit Redstone set a $410.00 target price on Adobe in a research report on Wednesday, March 19th. Mizuho lowered their price target on Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a research report on Friday, June 13th. Finally, Piper Sandler cut their price objective on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Two equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $480.08.

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.