Harbor Capital Advisors Inc. Has $3.45 Million Stake in Adobe Inc. $ADBE

Harbor Capital Advisors Inc. reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,905 shares of the software company’s stock after selling 38 shares during the period. Harbor Capital Advisors Inc.’s holdings in Adobe were worth $3,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Adobe by 46,806.6% during the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after buying an additional 2,984,391 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Adobe by 68.3% during 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 acquiring an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new position in Adobe in the 1st quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in 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 boosted 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 valued at $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ADBE. Rothschild & Co Redburn downgraded Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. Redburn Partners set a $280.00 target price on shares of Adobe in a report on Monday, September 1st. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Barclays lifted their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, BMO Capital Markets decreased their price objective on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $435.63.

Adobe Stock Up 1.6%

ADBE stock opened at $352.73 on Wednesday. The stock’s 50 day simple moving average is $356.13 and its 200 day simple moving average is $378.15. The company has a market cap of $149.63 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The company’s quarterly revenue 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. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe 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.