Adobe Inc. $ADBE Shares Bought by Platinum Investment Management Ltd.

Key Points

• Platinum Investment Management Ltd. significantly increased its stake in Adobe Inc. by 6,425.5% during the second quarter, holding a total of 180,691 shares valued at approximately $69.9 million.
• Major institutional investors have been active in Adobe, with various firms either increasing or establishing new positions, indicating a strong overall interest from the institutional investment community.
• Despite a recent dip in stock price, Adobe reported a successful quarter with an earnings per share (EPS) of $5.31, surpassing estimates and reflecting a year-over-year revenue increase of 10.7%.

Platinum Investment Management Ltd. raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6,425.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,691 shares of the software company's stock after acquiring an additional 177,922 shares during the period. Adobe makes up about 4.6% of Platinum Investment Management Ltd.'s portfolio, making the stock its 7th biggest holding. Platinum Investment Management Ltd.'s holdings in Adobe were worth $69,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Warren Street Wealth Advisors LLC acquired a new position in Adobe in the 2nd quarter valued at $224,000. Naples Global Advisors LLC raised its stake in Adobe by 14.8% in the second quarter. Naples Global Advisors LLC now owns 1,249 shares of the software company's stock valued at $483,000 after purchasing an additional 161 shares in the last quarter. Pure Financial Advisors LLC raised its stake in Adobe by 15.0% in the second quarter. Pure Financial Advisors LLC now owns 2,800 shares of the software company's stock valued at $1,083,000 after purchasing an additional 365 shares in the last quarter. Precision Wealth Strategies LLC acquired a new position in shares of Adobe in the 2nd quarter valued at approximately $318,000. Finally, Founders Capital Management raised its position in shares of Adobe by 2.7% in the 2nd quarter. Founders Capital Management now owns 8,180 shares of the software company's stock valued at $3,165,000 after buying an additional 214 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. Piper Sandler dropped their target price on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research report on Friday, September 12th. Redburn Partners set a $280.00 price objective on shares of Adobe in a research report on Monday, September 1st. Wells Fargo & Company reissued an "overweight" rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a report on Friday, September 12th. Finally, Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $433.41.

Adobe Trading Down 2.6%

Shares of NASDAQ ADBE opened at $343.72 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The firm has a 50 day moving average price of $354.11 and a two-hundred day moving average price of $373.01. The stock has a market cap of $143.88 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49.

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, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company's revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company 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 forecast that Adobe Inc. will post 16.65 EPS for the current year.

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.

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