Adobe Inc. $ADBE Stock Position Increased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in Adobe Inc. by 308.1% during the second quarter, acquiring an additional 2,347,562 shares and making Adobe its 5th biggest position.
• Equities analysts have set a consensus target price for Adobe at $435.63, with various ratings including one Strong Buy and fifteen Buy ratings.
• Adobe reported quarterly earnings of $5.31 per share, surpassing analysts' expectations, with year-over-year revenue growth of 10.7%.

Assenagon Asset Management S.A. boosted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 308.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,109,436 shares of the software company's stock after buying an additional 2,347,562 shares during the period. Adobe makes up 1.8% of Assenagon Asset Management S.A.'s holdings, making the stock its 5th biggest holding. Assenagon Asset Management S.A. owned about 0.73% of Adobe worth $1,202,979,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new stake in Adobe in the 2nd quarter valued at about $318,224,000. IFM Investors Pty Ltd lifted its stake in Adobe by 1.6% in the second quarter. IFM Investors Pty Ltd now owns 86,798 shares of the software company's stock worth $33,580,000 after purchasing an additional 1,344 shares during the last quarter. Grove Bank & Trust increased its position in shares of Adobe by 17.1% in the second quarter. Grove Bank & Trust now owns 8,895 shares of the software company's stock valued at $3,441,000 after acquiring an additional 1,299 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Adobe in the second quarter valued at about $1,420,000. Finally, Clare Market Investments LLC increased its position in shares of Adobe by 242.5% during the second quarter. Clare Market Investments LLC now owns 6,524 shares of the software company's stock valued at $2,524,000 after buying an additional 4,619 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays increased their price objective on shares of Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Mizuho decreased their price objective on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. Stifel Nicolaus cut their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Royal Bank Of Canada dropped their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Finally, Melius cut shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. One research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Performance

Shares of ADBE traded up $0.30 during mid-day trading on Tuesday, hitting $364.38. The company's stock had a trading volume of 1,364,005 shares, compared to its average volume of 3,944,865. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a market capitalization of $154.57 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. The stock's 50-day moving average is $355.82 and its two-hundred day moving average is $375.39.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the company posted $4.65 earnings per share. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. 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, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current 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.