Adobe Inc. $ADBE Stock Position Raised by South Dakota Investment Council

South Dakota Investment Council increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 33.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,842 shares of the software company’s stock after acquiring an additional 10,098 shares during the quarter. South Dakota Investment Council’s holdings in Adobe were worth $15,414,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ADBE. PFG Advisors raised its stake in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after buying an additional 855 shares in the last quarter. Lathrop Investment Management Co. grew 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 worth $10,269,000 after acquiring an additional 718 shares during the period. Mcdaniel Terry & Co. raised its position in Adobe by 2.8% in the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after acquiring an additional 1,093 shares in the last quarter. Financial Counselors Inc. raised its position in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after acquiring an additional 5,298 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC acquired a new stake in Adobe in the 2nd quarter valued at about $328,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the topic of several recent research reports. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Cowen restated a “hold” rating on shares of Adobe in a research report on Wednesday. Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Stock Performance

Shares of ADBE opened at $340.31 on Monday. The company has a market capitalization of $142.45 billion, a PE ratio of 21.20, a PEG ratio of 1.51 and a beta of 1.49. 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 company’s 50 day moving average price is $350.67 and its 200 day moving average price is $368.89. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last issued its earnings results 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business posted $4.65 EPS. The company’s revenue for the quarter 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. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.