Covea Finance Raises Stake in Adobe Inc. $ADBE

Key Points

• Covea Finance increased its stake in Adobe Inc. by 13.8% in the second quarter, owning a total of 86,379 shares valued at approximately $33.4 million.
• Analysts have mixed forecasts for Adobe, with price targets ranging from $400 to $475 and an average rating of "Moderate Buy."
• Adobe reported earnings of $5.31 per share, beating estimates, and projects fiscal year 2025 guidance of $20.800-20.850 EPS.

Covea Finance grew its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,379 shares of the software company's stock after purchasing an additional 10,490 shares during the quarter. Adobe makes up approximately 1.2% of Covea Finance's investment portfolio, making the stock its 26th largest position. Covea Finance's holdings in Adobe were worth $33,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ADBE. Schmidt P J Investment Management Inc. lifted its stake in Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock worth $344,000 after acquiring an additional 25 shares during the period. GS Investments Inc. lifted its stake in Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock worth $2,901,000 after acquiring an additional 26 shares during the period. Ted Buchan & Co lifted its stake in Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock worth $525,000 after acquiring an additional 26 shares during the period. Lifeworks Advisors LLC lifted its stake in Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock worth $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. lifted its stake in Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock worth $209,000 after acquiring an additional 27 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADBE. Citigroup lowered their price objective on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research note on Thursday, September 11th. Piper Sandler decreased their price target 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. Oppenheimer decreased their price target on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. Bank of America increased their price target on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada decreased their price target on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Trading Down 0.5%

Adobe stock opened at $364.08 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The stock's 50 day simple moving average is $355.82 and its two-hundred day simple moving average is $375.39. The firm has a market cap of $154.44 billion, a PE ratio of 22.68, a P/E/G ratio of 1.64 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) 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 firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm posted $4.65 EPS. The business'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. Analysts anticipate 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.

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