ARK Investment Management LLC Purchases 498 Shares of Adobe Inc. $ADBE

ARK Investment Management LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 57.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,360 shares of the software company’s stock after purchasing an additional 498 shares during the period. ARK Investment Management LLC’s holdings in Adobe were worth $526,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in shares of Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after buying an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Adobe by 68.3% in 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 during the last quarter. Nuveen LLC purchased a new position in shares of Adobe in the 1st quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after buying an additional 1,216,351 shares during the last quarter. Finally, Amundi boosted its stake 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 buying an additional 961,895 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADBE. Barclays raised their price target on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a research note on Wednesday, July 2nd. Finally, DA Davidson restated a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Down 1.0%

Shares of ADBE stock opened at $354.09 on Thursday. The stock has a market cap of $148.22 billion, a P/E ratio of 22.06, a PEG ratio of 1.60 and a beta of 1.49. Adobe Inc. has a 52 week low of $327.50 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 company’s fifty day simple moving average is $351.63 and its two-hundred day simple moving average is $368.54.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company earned $4.65 EPS. The business’s quarterly 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. Analysts predict that Adobe Inc. will post 16.65 EPS 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.