Adobe Inc. $ADBE Position Boosted by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 0.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,580 shares of the software company’s stock after purchasing an additional 735 shares during the quarter. Neuberger Berman Group LLC’s holdings in Adobe were worth $46,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC raised its holdings 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 acquiring an additional 167 shares in the last quarter. Meeder Asset Management Inc. increased its position in Adobe by 26.6% in the 1st quarter. Meeder Asset Management Inc. now owns 219 shares of the software company’s stock worth $84,000 after purchasing an additional 46 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Adobe during the 1st quarter worth about $92,000. Cozad Asset Management Inc. lifted its holdings in shares of Adobe by 15.5% during the 1st quarter. Cozad Asset Management Inc. now owns 820 shares of the software company’s stock valued at $314,000 after buying an additional 110 shares during the last quarter. Finally, Vestcor Inc grew its stake in shares of Adobe by 1.8% in the 1st quarter. Vestcor Inc now owns 14,116 shares of the software company’s stock valued at $5,414,000 after buying an additional 254 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADBE has been the topic of several recent research reports. Cowen reaffirmed a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. TD Cowen cut their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Piper Sandler reduced their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. UBS Group lowered their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Finally, Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $428.96.

Adobe Trading Down 0.6%

Shares of ADBE stock opened at $317.52 on Friday. The firm has a market capitalization of $132.91 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $557.90. The firm’s fifty day simple moving average is $340.32 and its 200 day simple moving average is $363.39. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $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, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.