AXQ Capital LP Takes Position in Adobe Inc. $ADBE

AXQ Capital LP bought a new position in Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 679 shares of the software company’s stock, valued at approximately $263,000.

A number of other large investors have also bought and sold shares of ADBE. Vanguard Group Inc. boosted its stake in Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after purchasing an additional 171,547 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Adobe by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after buying an additional 126,688 shares during the last quarter. Amundi raised its holdings in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Adobe by 6.8% during the 1st quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company’s stock worth $1,432,680,000 after acquiring an additional 238,542 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays set a $465.00 target price on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Oppenheimer lowered their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. UBS Group dropped their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Royal Bank Of Canada reduced their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $405.00 target price on shares of Adobe in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus target price of $428.96.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Adobe Trading Down 1.7%

Shares of NASDAQ ADBE opened at $318.73 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $311.58 and a twelve month high of $557.90. The company’s fifty day moving average is $342.88 and its 200-day moving average is $364.49. The stock has a market cap of $133.42 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share 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 firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current 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.