E Fund Management Co. Ltd. Has $6.89 Million Stake in Adobe Inc. (NASDAQ:ADBE)

E Fund Management Co. Ltd. increased its position in Adobe Inc. (NASDAQ:ADBE) by 16.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,409 shares of the software company’s stock after purchasing an additional 1,714 shares during the period. E Fund Management Co. Ltd.’s holdings in Adobe were worth $6,894,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tradewinds Capital Management LLC lifted its holdings in shares of Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Adobe in the 2nd quarter worth $33,000. Lynx Investment Advisory bought a new position in shares of Adobe in the 2nd quarter worth $39,000. Finally, Hobbs Group Advisors LLC bought a new position in Adobe during the 2nd quarter valued at $39,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADBE shares. Evercore ISI restated an “outperform” rating and set a $650.00 price objective on shares of Adobe in a research note on Friday, June 7th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Mizuho restated a “buy” rating and set a $640.00 price objective (down from $680.00) on shares of Adobe in a research note on Friday, June 7th. Oppenheimer restated an “outperform” rating and set a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, KeyCorp raised their price objective on Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $606.58.

Adobe Trading Down 1.2 %

Shares of ADBE opened at $515.03 on Wednesday. The business has a 50-day moving average of $551.66 and a 200 day moving average of $519.07. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The firm has a market cap of $228.36 billion, a P/E ratio of 46.27, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm posted $3.26 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Adobe Inc. will post 14.69 EPS for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Adobe news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $560.23, for a total value of $857,151.90. Following the transaction, the executive vice president now directly owns 20,359 shares of the company’s stock, valued at approximately $11,405,722.57. The disclosure for this sale can be found here. Insiders sold 27,259 shares of company stock valued at $14,855,543 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

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.