Rockefeller Capital Management L.P. Increases Stake in Adobe Inc. $ADBE

Rockefeller Capital Management L.P. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 13.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,657 shares of the software company’s stock after acquiring an additional 25,006 shares during the period. Rockefeller Capital Management L.P.’s holdings in Adobe were worth $81,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ADBE. Alberta Investment Management Corp increased its position in Adobe by 10.0% during the 2nd quarter. Alberta Investment Management Corp now owns 16,500 shares of the software company’s stock valued at $6,384,000 after buying an additional 1,505 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in Adobe by 372.6% during the 2nd quarter. Kingsview Wealth Management LLC now owns 102,423 shares of the software company’s stock worth $39,625,000 after buying an additional 80,753 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Adobe by 1,166.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 85,875 shares of the software company’s stock valued at $33,223,000 after acquiring an additional 79,096 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Adobe by 28.7% in the 2nd quarter. Intech Investment Management LLC now owns 252,533 shares of the software company’s stock valued at $97,700,000 after purchasing an additional 56,354 shares during the last quarter. Finally, Paragon Capital Management LLC purchased a new position in shares of Adobe during the 2nd quarter worth $962,000. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 0.7%

Shares of ADBE opened at $331.11 on Friday. The stock’s 50-day moving average is $346.61 and its two-hundred day moving average is $367.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $138.60 billion, a PE ratio of 20.63, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 12 month low of $323.03 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm’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. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. DA Davidson reaffirmed a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Royal Bank Of Canada cut their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Finally, UBS Group cut their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. One 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. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents 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 the SEC website. Insiders own 0.16% of the company’s stock.

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.