Evelyn Partners Asset Management Ltd Purchases 38,116 Shares of Adobe Inc. $ADBE

Evelyn Partners Asset Management Ltd raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 8,662.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,556 shares of the software company’s stock after buying an additional 38,116 shares during the quarter. Adobe comprises 3.6% of Evelyn Partners Asset Management Ltd’s portfolio, making the stock its 12th biggest holding. Evelyn Partners Asset Management Ltd’s holdings in Adobe were worth $14,917,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. grew its position in Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC bought a new stake in shares of Adobe in the 1st quarter valued at approximately $607,443,000. Amundi boosted its holdings 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 purchasing an additional 961,895 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Adobe by 116.9% during the 1st quarter. AQR Capital Management LLC now owns 1,632,789 shares of the software company’s stock valued at $616,345,000 after purchasing an additional 880,134 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 3.8%

Shares of ADBE opened at $324.19 on Friday. The firm has a market capitalization of $135.71 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a 1-year low of $311.58 and a 1-year high of $557.90. The company has a 50-day moving average of $343.44 and a 200 day moving average of $365.22.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.91 billion. During the same period last year, the company posted $4.65 earnings per share. The company’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. On average, research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of analyst reports. Cowen restated a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. TD Cowen reduced their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. DA Davidson restated a “buy” rating and issued a $500.00 target price on shares of Adobe in a report on Thursday. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Finally, Redburn Partners set a $280.00 price objective on shares of Adobe in a research report on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $428.96.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.