Congress Park Capital LLC Has $1.76 Million Stake in Adobe Inc. $ADBE

Key Points

• Congress Park Capital LLC increased its stake in Adobe Inc. by 21.6% to 4,556 shares, valued at approximately $1.76 million, according to a recent SEC filing.
• Institutional investors dominate Adobe’s ownership, with 81.79% of the stock held by hedge funds and other institutional investors.
• Adobe's latest earnings report showed an EPS of $5.31, exceeding estimates and reflecting a 10.7% increase in revenue year-over-year.

Congress Park Capital LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 21.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,556 shares of the software company's stock after acquiring an additional 808 shares during the quarter. Congress Park Capital LLC's holdings in Adobe were worth $1,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADBE. Vanguard Group Inc. increased its position in Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after buying an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp increased its position in Adobe by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after buying an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Adobe by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock worth $2,097,289,000 after buying an additional 126,688 shares during the last quarter. Amundi increased its position in Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after buying an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADBE. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Mizuho lowered their price target on Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. Barclays boosted their price objective on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Robert W. Baird boosted their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Finally, Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and an average target price of $435.63.

Adobe Price Performance

ADBE traded down $0.77 during trading on Tuesday, hitting $363.32. 2,289,773 shares of the stock traded hands, compared to its average volume of 3,950,663. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a market cap of $154.12 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.64 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The business has a 50 day moving average price of $355.82 and a 200 day moving average price of $375.39.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.