Alberta Investment Management Corp Has $6.38 Million Stake in Adobe Inc. $ADBE

Alberta Investment Management Corp raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,500 shares of the software company’s stock after acquiring an additional 1,505 shares during the quarter. Alberta Investment Management Corp’s holdings in Adobe were worth $6,384,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. grew its stake in Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after purchasing an additional 25 shares during the period. GS Investments Inc. boosted its holdings in shares of Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after buying an additional 26 shares in the last quarter. Ted Buchan & Co grew its position in shares of Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after buying an additional 26 shares during the period. Lifeworks Advisors LLC increased its stake in shares of Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after acquiring an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. increased its stake in shares of Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after acquiring an additional 27 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADBE has been the topic of several research analyst reports. DA Davidson reissued a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Citigroup cut their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Finally, Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

Shares of Adobe stock opened at $331.11 on Friday. Adobe Inc. has a 52 week low of $323.03 and a 52 week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $346.61 and a 200-day moving average price of $367.12. The company has a market cap of $138.60 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. Adobe’s revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.