Adobe Inc. $ADBE Shares Acquired by Panagora Asset Management Inc.

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

A number of other hedge funds have also recently added to or reduced their stakes in ADBE. Schmidt P J Investment Management Inc. lifted its holdings in shares of Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after buying an additional 25 shares during the period. Ted Buchan & Co grew its holdings in Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after acquiring an additional 26 shares during the period. VanderPol Investments L.L.C. raised its position in Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares in the last quarter. Rise Advisors LLC raised its position in Adobe by 7.0% in the first quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock worth $157,000 after acquiring an additional 27 shares in the last quarter. Finally, FSM Wealth Advisors LLC lifted its holdings in Adobe by 1.1% in the second quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock valued at $997,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of Adobe 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 completion of the sale, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays set a $465.00 price target on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. Piper Sandler dropped their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $428.96.

Adobe Trading Up 0.9%

Shares of ADBE opened at $320.25 on Monday. 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 Inc. has a 1-year low of $311.58 and a 1-year high of $557.90. The stock has a market cap of $134.05 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The firm has a 50 day simple moving average of $339.41 and a 200-day simple moving average of $362.37.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm 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. Equities analysts forecast 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.