Cresset Asset Management LLC Has $9.64 Million Holdings in Adobe Inc. $ADBE

Cresset Asset Management LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 1,265.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,915 shares of the software company’s stock after acquiring an additional 23,090 shares during the period. Cresset Asset Management LLC’s holdings in Adobe were worth $9,639,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ADBE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Adobe by 2.4% during the 1st 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 worth $2,097,289,000 after purchasing an additional 126,688 shares during the period. Norges Bank acquired a new position in Adobe in the 2nd quarter valued at approximately $2,029,950,000. Amundi lifted its position in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares during the period. Invesco Ltd. grew its holdings in shares of Adobe by 16.1% during the 2nd quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock worth $1,705,043,000 after purchasing an additional 610,215 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Adobe by 17.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,664,151 shares of the software company’s stock valued at $1,417,587,000 after purchasing an additional 548,903 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

NASDAQ:ADBE opened at $346.26 on Friday. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $557.90. The firm has a 50 day moving average of $336.48 and a 200-day moving average of $359.74. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $144.94 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the company earned $4.65 EPS. Adobe’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 and its Q4 2025 guidance at 5.350-5.400 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. Mizuho reduced their target price on Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Redburn Partners set a $280.00 price objective on shares of Adobe in a report on Monday, September 1st. Citigroup decreased their target price on shares of Adobe from $400.00 to $366.00 and set a “neutral” rating on the stock in a research report on Thursday. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Finally, Oppenheimer decreased their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Adobe has an average rating of “Hold” and an average target price of $425.85.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on 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 directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

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.