Jordan Park Group LLC Purchases New Stake in Adobe Inc. $ADBE

Jordan Park Group LLC acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 517 shares of the software company’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ADBE. Assenagon Asset Management S.A. boosted its holdings in shares of Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after buying an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. lifted its position in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after acquiring an additional 1,856,544 shares during the last quarter. Nuveen LLC bought a new stake in shares of Adobe during the first quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Finally, Amundi increased its stake in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. TD Cowen reduced their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Sunday. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Finally, Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and decreased their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $353.52 on Friday. The firm has a 50 day moving average of $351.71 and a 200-day moving average of $368.92. Adobe Inc. has a 12 month low of $327.50 and a 12 month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $147.98 billion, a PE ratio of 22.03, a PEG ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its earnings results 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. The firm had revenue of $5.99 billion during 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%.The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal 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.