Acadian Asset Management LLC Buys 169,862 Shares of Adobe Inc. $ADBE

Key Points

• Acadian Asset Management LLC significantly increased its stake in Adobe Inc. by 101.5%, acquiring an additional 169,862 shares during the first quarter, totaling 337,217 shares valued at approximately $129.3 million.
• Adobe recently surpassed analysts’ estimates with a reported $5.06 earnings per share (EPS) and revenue of $5.87 billion for the quarter, reflecting a 10.6% increase year-over-year.
• Analysts have mixed views on Adobe, with recent price target adjustments ranging from a low of $280 to a high of $460, indicating varying opinions on its future stock performance.

Acadian Asset Management LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 101.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 337,217 shares of the software company's stock after acquiring an additional 169,862 shares during the period. Acadian Asset Management LLC owned approximately 0.08% of Adobe worth $129,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Copia Wealth Management bought a new stake in shares of Adobe in the 4th quarter worth $28,000. SWAN Capital LLC purchased a new stake in shares of Adobe during the fourth quarter valued at $28,000. 1248 Management LLC bought a new stake in Adobe in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the 1st quarter worth about $26,000. Finally, Flaharty Asset Management LLC bought a new position in Adobe during the 1st quarter valued at about $29,000. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE traded down $1.65 during midday trading on Monday, reaching $347.72. 4,410,351 shares of the company were exchanged, compared to its average volume of 3,885,884. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock has a market cap of $147.50 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. The business's fifty day moving average is $357.32 and its two-hundred day moving average is $378.97. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating 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 period in the prior year, the company earned $4.65 earnings per share. The firm'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. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on ADBE shares. Melius lowered shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Friday. Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. Robert W. Baird lifted 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, Wells Fargo & Company reiterated an "overweight" rating and set a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

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.