Letko Brosseau & Associates Inc. Purchases 7,114 Shares of Adobe Inc. $ADBE

Letko Brosseau & Associates Inc. raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 167,255 shares of the software company’s stock after purchasing an additional 7,114 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Adobe were worth $64,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. boosted its holdings in shares of Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares during the last quarter. GS Investments Inc. raised its position in Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after acquiring an additional 26 shares during the period. Ted Buchan & Co boosted its stake in shares of Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after acquiring an additional 26 shares during the last quarter. Lifeworks Advisors LLC grew its position in shares of Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. increased its stake in shares of Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction 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 sale, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Adobe Stock Down 0.7%

NASDAQ ADBE opened at $331.11 on Friday. The stock’s 50 day moving average is $346.61 and its 200 day moving average is $367.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $323.03 and a 12 month high of $557.90. The stock has a market cap of $138.60 billion, a PE ratio of 20.63, a P/E/G ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) 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%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADBE. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Citigroup cut their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. BMO Capital Markets reissued an “outperform” rating and issued a $405.00 target price on shares of Adobe in a report on Wednesday, October 29th. 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 analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $433.41.

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.