Ancora Advisors LLC Increases Stake in Adobe Inc. $ADBE

Key Points

• Ancora Advisors LLC increased its stake in Adobe Inc. by 11.9%, acquiring an additional 769 shares to reach a total of 7,211 shares valued at approximately $2.77 million.
• Institutional investors and hedge funds collectively own 81.79% of Adobe's stock, indicating a strong interest from large investment firms.
• Adobe reported better-than-expected quarterly earnings with an EPS of $5.06, surpassing estimates, and revenue growth of 10.6% year-over-year.

Ancora Advisors LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,211 shares of the software company's stock after acquiring an additional 769 shares during the period. Ancora Advisors LLC's holdings in Adobe were worth $2,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Copia Wealth Management bought a new stake in Adobe in the fourth quarter valued at approximately $28,000. SWAN Capital LLC purchased a new position in shares of Adobe in the fourth quarter worth $28,000. 1248 Management LLC bought a new stake in Adobe during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe during the 1st quarter valued at $26,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Adobe during the first quarter valued at about $30,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ADBE shares. Barclays cut their price objective on Adobe from $567.00 to $460.00 and set an "overweight" rating on the stock in a research report on Friday. DA Davidson reiterated a "buy" rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, June 20th. Citigroup dropped their target price 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. Mizuho decreased their price target on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Royal Bank Of Canada lowered their price objective on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $446.74.

Adobe Stock Performance

Adobe stock traded down $4.60 during midday trading on Tuesday, reaching $354.06. 4,289,612 shares of the company traded hands, compared to its average volume of 3,769,567. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. 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 business has a 50 day moving average of $359.83 and a two-hundred day moving average of $381.50. The firm has a market capitalization of $150.19 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous 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, research analysts predict that Adobe Inc. will post 16.65 earnings per share 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.