Skandinaviska Enskilda Banken AB publ Boosts Stake in Adobe Inc. $ADBE

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 28.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 346,434 shares of the software company’s stock after purchasing an additional 76,957 shares during the quarter. Adobe accounts for approximately 0.6% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 28th biggest holding. Skandinaviska Enskilda Banken AB publ’s holdings in Adobe were worth $134,028,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares during the period. Meeder Asset Management Inc. boosted its position in Adobe by 26.6% in the first quarter. Meeder Asset Management Inc. now owns 219 shares of the software company’s stock valued at $84,000 after buying an additional 46 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Adobe in the 1st quarter worth approximately $92,000. Cozad Asset Management Inc. lifted its stake in Adobe by 15.5% during the 1st quarter. Cozad Asset Management Inc. now owns 820 shares of the software company’s stock valued at $314,000 after acquiring an additional 110 shares during the period. Finally, Vestcor Inc boosted its holdings in shares of Adobe by 1.8% in the 1st quarter. Vestcor Inc now owns 14,116 shares of the software company’s stock valued at $5,414,000 after acquiring an additional 254 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Adobe Trading Down 0.6%

Shares of ADBE stock opened at $317.52 on Friday. Adobe Inc. has a 1-year low of $311.58 and a 1-year high of $557.90. The company has a market cap of $132.91 billion, a price-to-earnings ratio of 19.78, 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. The stock has a 50 day simple moving average of $340.32 and a 200-day simple moving average of $363.39.

Adobe (NASDAQ:ADBE) last issued its quarterly 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. The company 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 firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. On average, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the subject of several recent research reports. DA Davidson reissued a “buy” rating and set a $500.00 target price on shares of Adobe in a report on Thursday, November 20th. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Mizuho lowered their target price on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Wells Fargo & Company reduced their price target on Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. Finally, Oppenheimer lowered their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus price target of $428.96.

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.