GF Fund Management CO. LTD. Acquires 2,744 Shares of Adobe Inc. (NASDAQ:ADBE)

GF Fund Management CO. LTD. raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,172 shares of the software company's stock after acquiring an additional 2,744 shares during the period. Adobe makes up 0.8% of GF Fund Management CO. LTD.'s portfolio, making the stock its 27th biggest position. GF Fund Management CO. LTD.'s holdings in Adobe were worth $33,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Avantax Planning Partners Inc. grew its stake in shares of Adobe by 6.7% in the first quarter. Avantax Planning Partners Inc. now owns 2,963 shares of the software company's stock worth $1,136,000 after acquiring an additional 186 shares during the last quarter. Aviance Capital Partners LLC boosted its position in shares of Adobe by 144.0% during the first quarter. Aviance Capital Partners LLC now owns 8,367 shares of the software company's stock valued at $3,209,000 after buying an additional 4,938 shares during the last quarter. Onyx Bridge Wealth Group LLC boosted its position in shares of Adobe by 119.2% during the first quarter. Onyx Bridge Wealth Group LLC now owns 1,153 shares of the software company's stock valued at $442,000 after buying an additional 627 shares during the last quarter. Goelzer Investment Management Inc. boosted its position in shares of Adobe by 1.4% during the first quarter. Goelzer Investment Management Inc. now owns 15,247 shares of the software company's stock valued at $5,848,000 after buying an additional 209 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of Adobe by 2.1% during the first quarter. Checchi Capital Advisers LLC now owns 3,798 shares of the software company's stock valued at $1,457,000 after buying an additional 77 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $1.09 during trading on Friday, hitting $379.56. The company had a trading volume of 2,863,680 shares, compared to its average volume of 3,430,343. The stock has a 50 day simple moving average of $396.09 and a 200 day simple moving average of $408.27. 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 12 month low of $332.01 and a 12 month high of $587.75. The firm has a market capitalization of $161.01 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.80 and a beta of 1.51.

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 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 firm 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 company earned $4.48 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ADBE shares. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Evercore ISI reaffirmed an "outperform" rating and set a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Stifel Nicolaus dropped their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. Finally, Oppenheimer dropped their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and a consensus price target of $480.08.

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.