China Universal Asset Management Co. Ltd. Purchases 4,068 Shares of Adobe Inc. (NASDAQ:ADBE)

China Universal Asset Management Co. Ltd. grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 29.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,811 shares of the software company's stock after purchasing an additional 4,068 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Adobe were worth $6,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Siemens Fonds Invest GmbH boosted 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 worth $25,000 after acquiring an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at approximately $26,000. SWAN Capital LLC acquired a new position in shares of Adobe in the 4th quarter valued at approximately $28,000. Copia Wealth Management acquired a new position in shares of Adobe in the 4th quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new position in shares of Adobe in the 4th quarter valued at approximately $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded up $5.31 during trading on Tuesday, reaching $382.24. The stock had a trading volume of 3,707,186 shares, compared to its average volume of 3,436,092. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The firm has a market capitalization of $162.15 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.79 and a beta of 1.51. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $396.25 and a two-hundred day simple moving average of $407.34.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Bank of America boosted their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. JPMorgan Chase & Co. lowered their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Royal Bank Of Canada restated an "outperform" rating and set a $480.00 price objective on shares of Adobe in a research note on Thursday, June 5th. Finally, Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and an average 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.