RBO & Co. LLC Purchases Shares of 20,174 Adobe Inc. $ADBE

RBO & Co. LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,174 shares of the software company’s stock, valued at approximately $7,805,000.

Several other hedge funds also recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its stake in Adobe by 308.1% during 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 holdings in shares of 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 position in shares of Adobe during the 1st quarter worth about $607,443,000. Amundi grew 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 valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Finally, AQR Capital Management LLC increased its position in Adobe by 116.9% in 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 buying an additional 880,134 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ADBE shares. Mizuho dropped their price target on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Citigroup lowered their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Barclays set a $465.00 price objective on Adobe and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Piper Sandler lowered their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. One investment 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $428.96.

Insider Activity 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 transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Adobe Stock Up 3.8%

ADBE stock opened at $324.19 on Friday. The stock has a fifty day moving average of $343.44 and a 200-day moving average of $365.09. Adobe Inc. has a fifty-two week low of $311.58 and a fifty-two week high of $557.90. The company 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 quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. As a group, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.