Norges Bank Invests $2.03 Billion in Adobe Inc. $ADBE

Norges Bank bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,246,977 shares of the software company’s stock, valued at approximately $2,029,950,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. 1248 Management LLC acquired a new position in Adobe in the first quarter valued at $25,000. LSV Asset Management boosted its position in Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of Adobe in the first quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Adobe during the first quarter valued at approximately $30,000. Finally, Nexus Investment Management ULC purchased a new position in Adobe in the 2nd quarter valued at about $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADBE. Barclays set a $465.00 price target on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Cowen reissued a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Mizuho lowered their price target on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Finally, UBS Group dropped their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $428.96.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $317.52 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $340.32 and a 200 day simple moving average of $363.39. Adobe Inc. has a one year low of $311.58 and a one year high of $557.90. The firm has a market capitalization of $132.91 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 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 business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the business earned $4.65 EPS. Adobe’s 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. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.