IFM Investors Pty Ltd Acquires 7,352 Shares of Adobe Inc. (NASDAQ:ADBE)

IFM Investors Pty Ltd lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,563 shares of the software company's stock after purchasing an additional 7,352 shares during the quarter. IFM Investors Pty Ltd's holdings in Adobe were worth $35,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. grew its holdings in Adobe by 3.3% during the first quarter. GF Fund Management CO. LTD. now owns 86,172 shares of the software company's stock worth $33,050,000 after acquiring an additional 2,744 shares during the period. Avantax Planning Partners Inc. grew its holdings in Adobe by 6.7% during 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 period. Aviance Capital Partners LLC grew its holdings in Adobe by 144.0% during the first quarter. Aviance Capital Partners LLC now owns 8,367 shares of the software company's stock worth $3,209,000 after acquiring an additional 4,938 shares during the period. Onyx Bridge Wealth Group LLC grew its holdings in Adobe by 119.2% during the first quarter. Onyx Bridge Wealth Group LLC now owns 1,153 shares of the software company's stock worth $442,000 after acquiring an additional 627 shares during the period. Finally, Goelzer Investment Management Inc. grew its holdings in Adobe by 1.4% during the first quarter. Goelzer Investment Management Inc. now owns 15,247 shares of the software company's stock worth $5,848,000 after acquiring an additional 209 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

ADBE traded down $0.77 on Monday, hitting $378.54. The company had a trading volume of 1,597,671 shares, compared to its average volume of 3,425,962. The company's fifty day moving average price is $396.09 and its 200 day moving average price is $407.83. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $160.58 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 1.80 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share 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 during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the company earned $4.48 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of a number of research analyst reports. DA Davidson reaffirmed a "buy" rating and set a $500.00 target price on shares of Adobe in a report on Friday, June 20th. Jefferies Financial Group dropped their price target on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 price target on shares of Adobe in a research note on Thursday, June 5th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Evercore ISI reissued an "outperform" rating and issued a $475.00 price target on shares of Adobe in a research note on Friday, June 13th. Two 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 assigned a strong buy rating to the company. According to data from MarketBeat, Adobe presently has an average rating of "Moderate Buy" and a consensus price target 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.