OMERS ADMINISTRATION Corp Has $11.12 Million Stock Holdings in Adobe Inc. $ADBE

OMERS ADMINISTRATION Corp trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 91.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,754 shares of the software company’s stock after selling 319,549 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Adobe were worth $11,124,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Lathrop Investment Management Co. boosted its position in Adobe by 2.8% in the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after buying an additional 718 shares during the last quarter. Mcdaniel Terry & Co. raised its position in shares of Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after acquiring an additional 1,093 shares during the last quarter. Jackson Thornton Wealth Management LLC acquired a new position in shares of Adobe during the second quarter valued at $328,000. Koss Olinger Consulting LLC bought a new position in Adobe in the first quarter valued at about $305,000. Finally, Bourgeon Capital Management LLC boosted its holdings in Adobe by 41.0% in the second quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock valued at $9,548,000 after acquiring an additional 7,176 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the firm’s 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 sale, the chief accounting officer 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. Evercore ISI dropped their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Cowen reiterated a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Mizuho dropped their price target on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, TD Cowen reduced their price objective 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $428.96.

Adobe Stock Up 0.9%

Adobe stock opened at $320.25 on Monday. The firm has a market capitalization of $134.05 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.51 and a beta of 1.47. The company’s 50 day simple moving average is $339.41 and its 200 day simple moving average is $362.37. 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 fifty-two week low of $311.58 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last issued its earnings results 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 firm had revenue of $5.99 billion during 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 business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter 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, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

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.