Neo Ivy Capital Management Makes New Investment in Adobe Inc. $ADBE

Neo Ivy Capital Management bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, Holdings Channel reports. The fund bought 1,036 shares of the software company’s stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Lathrop Investment Management Co. raised its position in shares of Adobe by 2.8% in the 2nd 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 in the last quarter. Mcdaniel Terry & Co. grew its stake in Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after purchasing an additional 1,093 shares during the period. Jackson Thornton Wealth Management LLC bought a new stake in Adobe in the second quarter worth approximately $328,000. Koss Olinger Consulting LLC bought a new stake in Adobe in the first quarter worth approximately $305,000. Finally, Bourgeon Capital Management LLC lifted its stake in Adobe by 41.0% in the second quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock valued at $9,548,000 after buying an additional 7,176 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the company’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 $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADBE shares. TD Cowen reduced 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 price target on shares of Adobe and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Mizuho dropped their price objective on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. Finally, Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $428.96.

Adobe Stock Performance

Shares of ADBE opened at $324.19 on Friday. The firm has a market capitalization of $135.71 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 52 week low of $311.58 and a 52 week high of $557.90. The stock has a 50 day moving average price of $343.44 and a two-hundred day moving average price of $365.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (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 company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. 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. Equities analysts forecast 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.