Adobe Inc. $ADBE Stake Increased by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 20.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,044 shares of the software company’s stock after buying an additional 1,864 shares during the quarter. 1832 Asset Management L.P.’s holdings in Adobe were worth $4,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ADBE. Lathrop Investment Management Co. grew its position in shares of Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after buying an additional 718 shares during the period. Mcdaniel Terry & Co. raised its stake in Adobe by 2.8% during the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after buying an additional 1,093 shares during the period. Jackson Thornton Wealth Management LLC acquired a new stake in shares of Adobe during the second quarter worth about $328,000. Koss Olinger Consulting LLC acquired a new stake in Adobe during the 1st quarter worth approximately $305,000. Finally, Bourgeon Capital Management LLC lifted its position in Adobe by 41.0% in the 2nd quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock valued at $9,548,000 after acquiring an additional 7,176 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent research reports. TD Cowen reduced their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Evercore ISI decreased their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. Finally, Citigroup dropped their price target on shares of Adobe from $400.00 to $366.00 and set a “neutral” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $425.85.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Adobe Stock Up 5.3%

Shares of NASDAQ:ADBE opened at $346.26 on Friday. Adobe Inc. has a 52-week low of $311.58 and a 52-week high of $557.90. The company has a market capitalization of $144.94 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.21 and a beta of 1.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day moving average of $336.48 and a 200-day moving average of $360.15.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. On average, equities 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.