Te Ahumairangi Investment Management Ltd Makes New Investment in Adobe Inc. $ADBE

Te Ahumairangi Investment Management Ltd bought a new position in Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,310 shares of the software company’s stock, valued at approximately $3,215,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Lathrop Investment Management Co. lifted its holdings in Adobe by 2.8% during the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after purchasing an additional 718 shares during the last quarter. Mcdaniel Terry & Co. raised its position in shares of Adobe by 2.8% in the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after purchasing an additional 1,093 shares during the period. Jackson Thornton Wealth Management LLC purchased a new stake in shares of Adobe during the 2nd quarter valued at approximately $328,000. Koss Olinger Consulting LLC purchased a new stake in shares of Adobe during the 1st quarter valued at approximately $305,000. Finally, Bourgeon Capital Management LLC boosted its holdings in Adobe by 41.0% in the 2nd quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock worth $9,548,000 after buying an additional 7,176 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 0.6%

Shares of ADBE opened at $317.52 on Thursday. The stock has a market capitalization of $132.91 billion, a P/E ratio of 19.78, a PEG ratio of 1.51 and a beta of 1.47. Adobe Inc. has a twelve month low of $311.58 and a twelve month 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 firm has a fifty day simple moving average of $341.32 and a two-hundred day simple moving average of $363.71.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (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 net margin of 30.01% and a return on equity of 57.54%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous 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, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value 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 filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADBE shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Citigroup reduced their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Royal Bank Of Canada reduced their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $428.96.

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.