Guinness Asset Management LTD Has $33.76 Million Stock Position in Adobe Inc. $ADBE

Key Points

• Guinness Asset Management LTD increased its stake in Adobe Inc. by 5.3% during the first quarter, owning a total of 88,006 shares valued at approximately $33.76 million.
• Adobe's latest quarterly earnings showed $5.06 earnings per share, exceeding analysts' expectations of $4.97, with reported revenue of $5.87 billion, up 10.6% year-over-year.
• Adobe holds a market cap of $148.70 billion and has a consensus rating of "Moderate Buy" among analysts, with an average price target of $444.89.

Guinness Asset Management LTD increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,006 shares of the software company's stock after acquiring an additional 4,413 shares during the period. Guinness Asset Management LTD's holdings in Adobe were worth $33,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after buying an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after buying an additional 756 shares during the last quarter. ProShare Advisors LLC increased its stake in Adobe by 18.8% in the 4th quarter. ProShare Advisors LLC now owns 591,711 shares of the software company's stock valued at $263,122,000 after buying an additional 93,841 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Adobe in the 4th quarter valued at $35,574,000. Finally, Point72 Europe London LLP bought a new position in shares of Adobe in the 4th quarter valued at about $4,772,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADBE shares. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Mizuho decreased their price objective on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. Piper Sandler decreased their price objective on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research report on Friday. TD Cowen decreased their price objective on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research report on Friday. Finally, BMO Capital Markets reduced their target price on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.63.

Adobe Stock Performance

NASDAQ ADBE traded down $2.26 during trading on Monday, reaching $347.10. The company's stock had a trading volume of 6,760,024 shares, compared to its average volume of 3,900,378. 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 firm has a market capitalization of $147.24 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The firm has a 50 day moving average price of $357.32 and a 200 day moving average price of $378.97.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The firm 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 business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous 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 anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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.