Regatta Capital Group LLC Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Regatta Capital Group LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 760 shares of the software company’s stock after acquiring an additional 54 shares during the period. Regatta Capital Group LLC’s holdings in Adobe were worth $291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADBE. Siemens Fonds Invest GmbH increased its stake in shares of Adobe by 252.9% in the fourth 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 during the period. SWAN Capital LLC bought a new stake in Adobe in the 4th quarter worth $28,000. Copia Wealth Management purchased a new position in shares of Adobe in the fourth quarter valued at about $28,000. Summit Securities Group LLC purchased a new position in shares of Adobe in the fourth quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Adobe during the fourth quarter valued at about $36,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $416.92 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $177.69 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 2.15 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’s 50-day moving average is $381.41 and its 200 day moving average is $424.16.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the previous year, the business earned $4.48 EPS. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent analyst reports. Mizuho cut their price objective on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Morgan Stanley reduced their price target 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. UBS Group cut their price objective on Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Oppenheimer decreased their target price on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.88.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

About Adobe

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.