Fox Run Management L.L.C. Takes Position in Adobe Inc. $ADBE

Fox Run Management L.L.C. bought a new position in Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,968 shares of the software company’s stock, valued at approximately $761,000.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of Adobe by 308.1% during 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 last quarter. Goldman Sachs Group Inc. grew its position in Adobe by 68.3% during the first 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 period. Nuveen LLC acquired a new stake in Adobe during the first quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of 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 purchasing an additional 1,216,351 shares during the period. Finally, Amundi lifted its stake in shares of 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 purchasing an additional 961,895 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. TD Cowen dropped their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. Barclays set a $465.00 target price on shares of Adobe and gave the company an “overweight” rating in a research note on Wednesday, October 29th. UBS Group decreased their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $433.41.

Adobe Trading Down 0.1%

NASDAQ:ADBE opened at $326.95 on Monday. The stock has a market cap of $136.86 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. Adobe Inc. has a one year low of $323.03 and a one year high of $557.90. 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 business’s 50-day simple moving average is $348.22 and its 200 day simple moving average is $368.33.

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, beating analysts’ consensus estimates 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 analyst estimates of $5.91 billion. During the same quarter last year, the firm earned $4.65 EPS. Adobe’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. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The shares were 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. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

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.