GF Fund Management CO. LTD. Invests $37.10 Million in Adobe Inc. (NASDAQ:ADBE)

GF Fund Management CO. LTD. bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 83,428 shares of the software company's stock, valued at approximately $37,099,000. Adobe comprises approximately 0.8% of GF Fund Management CO. LTD.'s portfolio, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Sepio Capital LP grew its position in shares of Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after acquiring an additional 22 shares during the period. Cadence Bank lifted its stake in shares of Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after buying an additional 22 shares in the last quarter. Eagle Strategies LLC lifted its stake in shares of Adobe by 1.5% during the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after buying an additional 22 shares in the last quarter. RB Capital Management LLC lifted its stake in shares of Adobe by 0.4% during the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after buying an additional 22 shares in the last quarter. Finally, Foster Group Inc. lifted its stake in shares of Adobe by 4.6% during the 4th quarter. Foster Group Inc. now owns 526 shares of the software company's stock valued at $234,000 after buying an additional 23 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADBE has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their price objective on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Stifel Nicolaus decreased their target price on shares of Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. DA Davidson decreased their price target on shares of Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, BMO Capital Markets decreased their price target on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Insider Activity at Adobe

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

Adobe Stock Performance

Shares of ADBE stock traded down $0.34 during trading hours on Thursday, reaching $411.90. 728,947 shares of the company's stock were exchanged, compared to its average volume of 3,435,008. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market capitalization of $175.55 billion, a P/E ratio of 33.28, a P/E/G ratio of 2.15 and a beta of 1.55. The business has a fifty day moving average price of $378.50 and a 200-day moving average price of $430.10. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 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 business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the company posted $4.48 earnings per share. Analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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.