Adobe Inc. $ADBE Stock Holdings Increased by FORA Capital LLC

Key Points

• FORA Capital LLC significantly increased its stake in Adobe Inc. by 1,148.7% during the first quarter, owning a total of 25,849 shares valued at approximately $9.91 million.
• Adobe recently reported earnings of $5.06 EPS for the quarter, exceeding analysts' expectations, and showed a 10.6% year-over-year revenue growth to $5.87 billion.
• Analysts have varying price targets for Adobe, with estimates ranging from $280 to $500, and a general consensus rating of "Moderate Buy".

FORA Capital LLC raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1,148.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,849 shares of the software company's stock after purchasing an additional 23,779 shares during the quarter. Adobe comprises about 1.0% of FORA Capital LLC's investment portfolio, making the stock its 12th biggest position. FORA Capital LLC's holdings in Adobe were worth $9,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ADBE. J. Stern & Co. LLP raised its holdings in shares of Adobe by 10.9% during the 1st quarter. J. Stern & Co. LLP now owns 96,623 shares of the software company's stock valued at $37,058,000 after buying an additional 9,517 shares during the period. Harvest Portfolios Group Inc. raised its stake in shares of Adobe by 9.4% during the first quarter. Harvest Portfolios Group Inc. now owns 55,807 shares of the software company's stock valued at $21,404,000 after purchasing an additional 4,809 shares during the period. South Plains Financial Inc. lifted its position in shares of Adobe by 14.5% during the first quarter. South Plains Financial Inc. now owns 3,384 shares of the software company's stock worth $1,298,000 after purchasing an additional 428 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Adobe by 27.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 572,262 shares of the software company's stock valued at $219,480,000 after purchasing an additional 123,251 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in Adobe during the 1st quarter valued at $206,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup cut their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Bank of America boosted their price target on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. UBS Group upped their target price on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Finally, Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Adobe has an average rating of "Moderate Buy" and a consensus price target of $467.58.

Adobe Stock Performance

Shares of NASDAQ ADBE traded down $2.39 during mid-day trading on Thursday, hitting $353.96. The company had a trading volume of 3,799,650 shares, compared to its average volume of 3,701,779. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. The stock has a market cap of $150.15 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.69 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The firm's 50 day simple moving average is $364.81 and its two-hundred day simple moving average is $388.37.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The firm's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.48 EPS. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current 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.