Adobe Inc. $ADBE is 111 Capital's 9th Largest Position

Key Points

• 111 Capital significantly increased its stake in Adobe by 523.3% in Q2, now holding 21,772 shares, making Adobe its 9th largest position worth approximately $8.4 million.
• Other institutional investors, like Assenagon and Goldman Sachs, also expanded their holdings in Adobe, with hedge funds and institutional investors owning 81.79% of the stock.
• Adobe reported impressive financial results for its last quarter, with earnings per share of $5.31, exceeding expectations, and anticipates continued growth, with analysts forecasting an average target price of $433.41.

111 Capital boosted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 523.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,772 shares of the software company's stock after buying an additional 18,279 shares during the quarter. Adobe makes up 1.4% of 111 Capital's investment portfolio, making the stock its 9th largest holding. 111 Capital's holdings in Adobe were worth $8,423,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock valued at $1,202,979,000 after purchasing an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. grew its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC bought a new position in Adobe in the 1st quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in 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 valued at $498,000 after purchasing an additional 1,216,351 shares during the period. Finally, Amundi grew its stake in 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 during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ:ADBE opened at $346.74 on Friday. The stock has a market cap of $145.15 billion, a P/E ratio of 21.60, a PEG ratio of 1.58 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The business's 50-day moving average price is $353.22 and its two-hundred day moving average price is $372.37.

Adobe (NASDAQ:ADBE - Get Free Report) last announced 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. The company had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $4.65 EPS. 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, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of recent analyst reports. Barclays upped their price objective on Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Robert W. Baird increased their price target on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Oppenheimer cut their price target on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Citigroup cut their price target on Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada cut their price target on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of "Hold" and an average price target 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.

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