Adobe Inc. $ADBE Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.4% during the second quarter, HoldingsChannel.com reports. The fund owned 738,477 shares of the software company’s stock after buying an additional 30,847 shares during the period. California Public Employees Retirement System’s holdings in Adobe were worth $285,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after acquiring an additional 167 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Adobe by 6.8% during the first quarter. Chicago Partners Investment Group LLC now owns 3,494 shares of the software company’s stock worth $1,345,000 after purchasing an additional 223 shares during the last quarter. WBH Advisory Inc. lifted its holdings in shares of Adobe by 16.4% during the first quarter. WBH Advisory Inc. now owns 525 shares of the software company’s stock worth $201,000 after purchasing an additional 74 shares during the period. AlphaCore Capital LLC purchased a new position in Adobe in the 1st quarter valued at $1,339,000. Finally, LaSalle St. Investment Advisors LLC grew its position in Adobe by 3.3% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 972 shares of the software company’s stock valued at $372,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of Adobe from $400.00 to $366.00 and set a “neutral” rating for the company in a research note on Thursday. Cowen restated a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Oppenheimer dropped their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Finally, Evercore ISI reduced their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $425.85.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value 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 represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Adobe Trading Up 5.3%

Shares of Adobe stock opened at $346.26 on Friday. The company has a 50-day moving average of $336.48 and a two-hundred day moving average of $359.74. Adobe Inc. has a 12-month low of $311.58 and a 12-month high of $557.90. 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 stock has a market cap of $144.94 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last announced 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. 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 analyst estimates of $5.91 billion. During the same quarter in the previous year, the company earned $4.65 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.