CX Institutional Purchases 2,643 Shares of Adobe Inc. $ADBE

CX Institutional boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 19.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,153 shares of the software company’s stock after acquiring an additional 2,643 shares during the period. CX Institutional’s holdings in Adobe were worth $6,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. GAMMA Investing LLC grew its holdings in Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock valued at $1,147,049,000 after buying an additional 2,984,391 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after buying an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Nuveen LLC purchased a new stake in Adobe during the 1st quarter valued at approximately $607,443,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after buying an additional 1,216,351 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADBE shares. Redburn Partners set a $280.00 price objective on shares of Adobe in a report on Monday, September 1st. Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a report on Monday, August 11th. Piper Sandler cut their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price for the company. in a report on Wednesday, July 2nd. Finally, Evercore ISI cut their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Adobe currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Up 0.3%

Shares of ADBE opened at $354.16 on Friday. The company has a market cap of $150.23 billion, a PE ratio of 22.07, a P/E/G ratio of 1.58 and a beta of 1.48. The business has a fifty day moving average of $355.36 and a 200 day moving average of $374.59. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

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