Panagora Asset Management Inc. Raises Position in Adobe Inc. $ADBE

Panagora Asset Management Inc. grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 380.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,190 shares of the software company’s stock after acquiring an additional 186,241 shares during the period. Panagora Asset Management Inc. owned about 0.06% of Adobe worth $90,990,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of ADBE. Brighton Jones LLC grew its position in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after buying an additional 167 shares in the last quarter. Baker Avenue Asset Management LP raised its holdings in Adobe by 241.5% in the first quarter. Baker Avenue Asset Management LP now owns 2,524 shares of the software company’s stock valued at $968,000 after acquiring an additional 1,785 shares in the last quarter. J. Safra Sarasin Holding AG lifted its stake in Adobe by 52.8% in the first quarter. J. Safra Sarasin Holding AG now owns 8,040 shares of the software company’s stock worth $3,105,000 after acquiring an additional 2,779 shares during the last quarter. Bank of Nova Scotia Trust Co. lifted its stake in Adobe by 30.9% in the first quarter. Bank of Nova Scotia Trust Co. now owns 2,400 shares of the software company’s stock worth $920,000 after acquiring an additional 567 shares during the last quarter. Finally, Liberty Wealth Management LLC grew its holdings in Adobe by 28,143.1% during the 1st quarter. Liberty Wealth Management LLC now owns 400,770 shares of the software company’s stock worth $141,000 after acquiring an additional 399,351 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $320.25 on Monday. The firm’s fifty day simple moving average is $339.41 and its 200-day simple moving average is $362.37. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90. The stock 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 has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business 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. As a group, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Redburn Partners set a $280.00 price objective on shares of Adobe in a report on Monday, September 1st. Barclays set a $465.00 target price on Adobe and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wells Fargo & Company cut their price target on Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. UBS Group lowered their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Finally, Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of “Hold” and a consensus target price of $428.96.

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.