Adobe Inc. $ADBE Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,084,826 shares of the software company’s stock after purchasing an additional 21,778 shares during the quarter. Geode Capital Management LLC owned about 2.61% of Adobe worth $4,273,986,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. United Asset Strategies Inc. increased its stake in Adobe by 3.5% during the 2nd quarter. United Asset Strategies Inc. now owns 33,149 shares of the software company’s stock worth $12,825,000 after buying an additional 1,122 shares during the period. KBC Group NV increased its position in shares of Adobe by 71.1% during the second quarter. KBC Group NV now owns 421,040 shares of the software company’s stock worth $162,893,000 after acquiring an additional 174,925 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Adobe by 2.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 304,923 shares of the software company’s stock valued at $117,969,000 after acquiring an additional 6,533 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Adobe by 2.1% in the second quarter. SBI Securities Co. Ltd. now owns 7,905 shares of the software company’s stock valued at $3,058,000 after acquiring an additional 160 shares in the last quarter. Finally, IMA Advisory Services Inc. boosted its holdings in Adobe by 19.7% in the second quarter. IMA Advisory Services Inc. now owns 5,474 shares of the software company’s stock valued at $2,118,000 after purchasing an additional 901 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. DA Davidson reissued a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Cowen restated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Piper Sandler decreased their price target 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. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Adobe has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Price Performance

ADBE stock opened at $333.22 on Wednesday. The stock has a market cap of $139.49 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.51 and a beta of 1.47. Adobe Inc. has a fifty-two week low of $323.03 and a fifty-two week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $347.41 and a 200 day moving average price of $367.86.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.91 billion. During the same quarter last year, the company earned $4.65 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In other 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 sale, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. The trade was 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 this link. Insiders own 0.16% of the company’s stock.

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.