OMERS ADMINISTRATION Corp Buys New Position in Adobe Inc. $ADBE

OMERS ADMINISTRATION Corp bought a new stake in Adobe Inc. (NASDAQ:ADBE) during the second quarter, HoldingsChannel.com reports. The fund bought 32,844 shares of the software company’s stock, valued at approximately $6,734,000.

Other hedge funds also recently modified their holdings of the company. Conquis Financial LLC purchased a new stake in shares of Adobe during the second quarter worth about $921,000. Osmosis Investment Management UK Ltd acquired a new position in shares of Adobe in the second quarter valued at approximately $2,729,000. Sanctuary Advisors LLC purchased a new position in shares of Adobe during the second quarter valued at approximately $6,058,000. Biondo Investment Advisors LLC purchased a new position in shares of Adobe during the second quarter valued at approximately $2,647,000. Finally, Saranac Partners Ltd acquired a new stake in Adobe during the second quarter worth approximately $797,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

ADBE opened at $276.27 on Tuesday. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $370.86. The company has a 50 day moving average of $234.01 and a two-hundred day moving average of $244.68. The company has a market cap of $109.82 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.93 and a beta of 1.40. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts expect that Adobe Inc. will post 19.8 earnings per share for the current year.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 416 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the transaction, the chief accounting officer directly owned 3,824 shares of the company’s stock, valued at $1,010,797.92. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Ricks acquired 10,000 shares of Adobe stock in a transaction on Thursday, June 25th. The shares were bought at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the purchase, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ADBE shares. Evercore set a $225.00 target price on shares of Adobe and gave the stock an “in-line” rating in a research note on Friday, June 12th. Citizens Jmp reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. Mizuho reduced their target price on Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. KeyCorp decreased their price target on Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a research note on Friday, June 12th. Finally, HSBC upgraded shares of Adobe from a “hold” rating to a “buy” rating and increased their price objective for the stock from $282.00 to $308.00 in a report on Thursday, July 2nd. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Adobe presently has a consensus rating of “Hold” and an average target price of $270.96.

Adobe Company Profile

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.