Adobe Inc. $ADBE Shares Bought by PineStone Asset Management Inc.

Key Points

• PineStone Asset Management Inc. increased its stake in Adobe Inc. by 13.2%, owning a total of 327,214 shares valued at approximately $126.6 million.
• Adobe reported $5.31 earnings per share in its latest quarterly results, surpassing analysts' expectations of $5.18 and showcasing a 10.7% increase in revenue year-over-year.
• A variety of analysts have adjusted their price targets for Adobe, with the consensus now at $433.41, reflecting a mix of rating adjustments from “outperform” to “sell.”

PineStone Asset Management Inc. grew its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,214 shares of the software company's stock after purchasing an additional 38,276 shares during the period. Adobe makes up about 0.8% of PineStone Asset Management Inc.'s holdings, making the stock its 26th largest holding. PineStone Asset Management Inc. owned about 0.08% of Adobe worth $126,593,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Fortune Financial Advisors LLC lifted its stake in Adobe by 2.5% during the second quarter. Fortune Financial Advisors LLC now owns 2,529 shares of the software company's stock worth $978,000 after purchasing an additional 61 shares in the last quarter. Essex Financial Services Inc. lifted its stake in Adobe by 7.1% during the second quarter. Essex Financial Services Inc. now owns 8,221 shares of the software company's stock worth $3,181,000 after purchasing an additional 543 shares in the last quarter. Motive Wealth Advisors acquired a new position in Adobe during the second quarter worth $203,000. Castleview Partners LLC lifted its stake in Adobe by 24.3% during the second quarter. Castleview Partners LLC now owns 1,523 shares of the software company's stock worth $589,000 after purchasing an additional 298 shares in the last quarter. Finally, Retirement Guys Formula LLC lifted its stake in Adobe by 9.0% during the second quarter. Retirement Guys Formula LLC now owns 3,985 shares of the software company's stock worth $1,542,000 after purchasing an additional 328 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Up 0.3%

Adobe stock opened at $354.16 on Friday. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. 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 stock has a market cap of $150.23 billion, a PE ratio of 22.07, a P/E/G ratio of 1.58 and a beta of 1.48. The stock's fifty day moving average is $355.36 and its two-hundred day moving average is $374.59.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.91 billion. During the same period last year, the firm earned $4.65 earnings per share. Adobe's quarterly 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. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ADBE. Oppenheimer decreased their price target on Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. Mizuho reduced their price objective on Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. Royal Bank Of Canada reduced their price objective on Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Adobe has an average rating of "Hold" and a consensus price target of $433.41.

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.

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