Scharf Investments LLC Acquires 232,362 Shares of Adobe Inc. $ADBE

Key Points

• Scharf Investments LLC significantly increased its stake in Adobe Inc. by 5,059%, acquiring 232,362 additional shares, bringing their total ownership to approximately 236,955 shares valued at about $91.7 million.
• Adobe reported a 10.7% year-over-year increase in revenue, reaching $5.99 billion, and exceeded analysts' earnings estimates with $5.31 per share in its latest quarterly results.
• The consensus rating for Adobe stock is a "Moderate Buy," with a target price of approximately $435.63, following recent adjustments by various analysts.

Scharf Investments LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 5,059.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 236,955 shares of the software company's stock after acquiring an additional 232,362 shares during the period. Adobe accounts for 2.6% of Scharf Investments LLC's portfolio, making the stock its 16th largest position. Scharf Investments LLC owned 0.06% of Adobe worth $91,679,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH grew its holdings in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares during the period. 1248 Management LLC acquired a new stake in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the 1st quarter worth $26,000. SWAN Capital LLC acquired a new position in shares of Adobe in the 4th quarter valued at $28,000. Finally, Copia Wealth Management acquired a new position in shares of Adobe in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Ratings Changes

ADBE has been the subject of several research analyst reports. JMP Securities reissued a "market perform" rating on shares of Adobe in a report on Friday, September 12th. BMO Capital Markets decreased their price target on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and decreased their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Citigroup decreased their price target on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. Finally, Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Down 0.5%

NASDAQ:ADBE traded down $1.82 on Monday, hitting $364.08. 4,704,525 shares of the company's stock were exchanged, compared to its average volume of 5,210,053. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a market cap of $154.44 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. The firm has a 50-day moving average price of $355.82 and a 200-day moving average price of $375.39. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $4.65 EPS. Adobe'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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal 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.