Pzena Investment Management LLC Takes Position in Adobe Inc. $ADBE

Pzena Investment Management LLC bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 583 shares of the software company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ADBE. Assenagon Asset Management S.A. boosted its holdings 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 worth $1,202,979,000 after buying an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 worth $1,754,954,000 after buying an additional 1,856,544 shares during the period. Nuveen LLC bought a new position in Adobe in the 1st quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings 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 worth $498,000 after buying an additional 1,216,351 shares during the period. Finally, Amundi boosted its holdings in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the period. 81.79% of the stock is owned by institutional investors.

Adobe Stock Performance

Adobe stock opened at $339.32 on Tuesday. The firm’s fifty day moving average price is $351.68 and its 200-day moving average price is $370.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $142.04 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate 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 net margin of 30.01% and a return on equity of 57.54%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company 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. On average, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on ADBE. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. UBS Group cut their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Robert W. Baird raised their price target on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday, June 16th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Finally, BMO Capital Markets cut their price target on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $433.41.

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.