KBC Group NV Raises Stock Position in Adobe Inc. $ADBE

KBC Group NV raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 71.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 421,040 shares of the software company’s stock after purchasing an additional 174,925 shares during the quarter. KBC Group NV owned 0.10% of Adobe worth $162,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. 1248 Management LLC acquired a new position in Adobe in the first quarter valued at approximately $25,000. Flaharty Asset Management LLC purchased a new stake in shares of Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the first quarter valued at approximately $30,000. Nexus Investment Management ULC purchased a new position in Adobe in the 2nd quarter valued at $31,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Adobe by 44.9% in the second quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock worth $39,000 after buying an additional 31 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $333.22 on Wednesday. The stock has a market cap of $139.49 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.51 and a beta of 1.47. The stock has a 50 day moving average of $347.41 and a two-hundred day moving average of $367.86. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $323.03 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 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 business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. 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 forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 149 shares of the firm’s 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. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADBE shares. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Cowen reissued a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Citigroup cut their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Wall Street Zen cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Oppenheimer lowered their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.