Cooper Investors PTY Ltd. Has $7.12 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Cooper Investors PTY Ltd. increased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 35.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,559 shares of the software company's stock after buying an additional 4,902 shares during the quarter. Cooper Investors PTY Ltd.'s holdings in Adobe were worth $7,118,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ADBE. Copia Wealth Management acquired a new stake in Adobe during the fourth quarter worth $28,000. SWAN Capital LLC acquired a new position in shares of Adobe in the 4th quarter valued at $28,000. Summit Securities Group LLC bought a new position in shares of Adobe during the 4th quarter worth about $31,000. Bernard Wealth Management Corp. acquired a new stake in shares of Adobe during the 4th quarter valued at about $36,000. Finally, Mascoma Wealth Management LLC increased its stake in Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after acquiring an additional 50 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Up 1.4%

Shares of NASDAQ ADBE traded up $5.21 during midday trading on Wednesday, reaching $387.55. 3,715,639 shares of the stock were exchanged, compared to its average volume of 3,403,827. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a market capitalization of $165.17 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 1.81 and a beta of 1.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18. The business has a 50-day simple moving average of $391.76 and a two-hundred day simple moving average of $413.89.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 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 business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the business posted $4.48 EPS. The firm's revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on ADBE shares. Oppenheimer lowered their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Jefferies Financial Group dropped their price objective on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Evercore ISI reaffirmed an "outperform" rating and set a $475.00 price target on shares of Adobe in a research note on Friday, June 13th. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Finally, KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Nine equities research 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. According to MarketBeat, Adobe presently has an average 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.