Probity Advisors Inc. Acquires 255 Shares of Adobe Inc. $ADBE

Probity Advisors Inc. raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,325 shares of the software company’s stock after acquiring an additional 255 shares during the quarter. Probity Advisors Inc.’s holdings in Adobe were worth $899,000 as of its most recent filing with the Securities & Exchange Commission.

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

Adobe Trading Up 3.0%

Shares of NASDAQ ADBE opened at $343.40 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $143.75 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90. The business has a fifty day moving average price of $351.18 and a 200 day moving average price of $368.72.

Adobe (NASDAQ:ADBE) last issued 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. 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 firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior 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. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADBE. Citigroup cut their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. BMO Capital Markets dropped their price target on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. UBS Group dropped their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Adobe has an average rating of “Hold” and an average price target of $433.41.

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.