Adobe Inc. $ADBE Stock Position Lowered by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Adobe Inc. (NASDAQ:ADBE) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 143,748 shares of the software company’s stock after selling 3,136 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Adobe were worth $55,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADBE. Brighton Jones LLC raised its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after buying an additional 167 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Adobe by 22.3% during the first quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock worth $2,991,000 after purchasing an additional 1,422 shares during the period. Moran Wealth Management LLC raised its position in Adobe by 6.5% during the first quarter. Moran Wealth Management LLC now owns 1,402 shares of the software company’s stock valued at $538,000 after buying an additional 86 shares during the period. Global Assets Advisory LLC acquired a new position in Adobe during the first quarter valued at $217,000. Finally, Golden State Equity Partners raised its position in Adobe by 3.1% during the first quarter. Golden State Equity Partners now owns 1,065 shares of the software company’s stock valued at $408,000 after buying an additional 32 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE opened at $353.52 on Friday. The company has a market cap of $147.98 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49. The stock has a 50-day moving average of $351.71 and a 200-day moving average of $368.72. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) 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 company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 EPS. The firm’s revenue 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. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Friday. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Rothschild & Co Redburn downgraded 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. Barclays boosted their target price on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Finally, Redburn Partners set a $280.00 target price on Adobe in a research note on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $433.41.

About Adobe

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.