Invesco Ltd. Acquires 610,215 Shares of Adobe Inc. $ADBE

Invesco Ltd. raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 16.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,407,162 shares of the software company’s stock after acquiring an additional 610,215 shares during the quarter. Invesco Ltd.’s holdings in Adobe were worth $1,705,043,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADBE. 1248 Management LLC bought a new position in shares of Adobe in the 1st quarter worth $25,000. LSV Asset Management increased its holdings in Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 56 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in Adobe in the first quarter valued at about $29,000. Nexus Investment Management ULC bought a new position in Adobe during the second quarter worth about $31,000. Finally, Horizon Financial Services LLC boosted its holdings in Adobe by 4,000.0% during the second quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on 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 approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

Adobe Stock Performance

ADBE opened at $322.81 on Wednesday. The company has a market capitalization of $135.13 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.18 and a beta of 1.54. The business’s 50-day moving average price is $337.80 and its two-hundred day moving average price is $361.13. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $557.90. 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 posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share 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 company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 price target on shares of Adobe in a research note on Wednesday, October 29th. Citigroup lowered their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Thursday, November 20th. Royal Bank Of Canada lowered their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Finally, Cowen reaffirmed a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.