Adobe Inc. $ADBE Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 28.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 252,533 shares of the software company’s stock after acquiring an additional 56,354 shares during the quarter. Adobe makes up approximately 0.9% of Intech Investment Management LLC’s investment portfolio, making the stock its 10th largest position. Intech Investment Management LLC’s holdings in Adobe were worth $97,700,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Paragon Capital Management LLC acquired a new position in shares of Adobe during the 2nd quarter worth approximately $962,000. Cetera Investment Advisers boosted its holdings in shares of Adobe by 3.9% in the 2nd quarter. Cetera Investment Advisers now owns 106,607 shares of the software company’s stock valued at $41,244,000 after buying an additional 3,980 shares during the last quarter. Creative Planning increased its holdings in Adobe by 1.5% during the second quarter. Creative Planning now owns 137,884 shares of the software company’s stock worth $53,345,000 after buying an additional 2,040 shares during the last quarter. Condor Capital Management raised its position in Adobe by 135.8% during the second quarter. Condor Capital Management now owns 7,172 shares of the software company’s stock worth $2,775,000 after acquiring an additional 4,130 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its stake in Adobe by 5.2% in the second quarter. Meridian Wealth Management LLC now owns 9,340 shares of the software company’s stock valued at $3,614,000 after acquiring an additional 463 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADBE. Cowen restated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Citigroup dropped their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research note on Monday, August 11th. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Finally, Piper Sandler cut their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. One 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Stock Performance

NASDAQ:ADBE opened at $331.11 on Friday. The stock has a 50 day simple moving average of $346.61 and a 200 day simple moving average of $367.15. The stock has a market cap of $138.60 billion, a P/E ratio of 20.63, a PEG ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 1-year low of $323.03 and a 1-year high of $557.90. 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 (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share 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 the consensus estimate of $5.91 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The company’s 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. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Adobe Company 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.