Resona Asset Management Co. Ltd. Acquires 24,890 Shares of Adobe Inc. $ADBE

Resona Asset Management Co. Ltd. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 294,188 shares of the software company’s stock after purchasing an additional 24,890 shares during the period. Adobe comprises 0.6% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 27th biggest holding. Resona Asset Management Co. Ltd. owned about 0.07% of Adobe worth $113,745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new position in Adobe during the first quarter worth about $25,000. Flaharty Asset Management LLC bought a new position in Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the first quarter worth about $30,000. Nexus Investment Management ULC bought a new position in Adobe during the second quarter worth about $31,000. Finally, Cornerstone Planning Group LLC lifted its stake in Adobe by 128.6% during the first quarter. Cornerstone Planning Group LLC now owns 112 shares of the software company’s stock worth $39,000 after purchasing an additional 63 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $335.53 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $140.45 billion, a P/E ratio of 20.91, a P/E/G ratio of 1.51 and a beta of 1.49. The firm has a 50 day simple moving average of $349.35 and a 200 day simple moving average of $368.49. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share 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%. Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $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. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on ADBE. Royal Bank Of Canada cut their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Barclays set a $465.00 target price on shares of Adobe and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Citigroup cut their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Finally, Cowen reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $433.41.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were 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 $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.