First Long Island Investors LLC Increases Stock Position in Adobe Inc. $ADBE

Key Points

• First Long Island Investors LLC increased its stake in Adobe Inc. by 2.8% during the first quarter, holding approximately $18.73 million in Adobe stock.
• Adobe's recent quarterly earnings report showed an EPS of $5.06, beating expectations and marking a 10.6% revenue increase compared to the previous year.
• Analysts have set an average price target for Adobe at $444.89, with a consensus rating of "Moderate Buy".

First Long Island Investors LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,834 shares of the software company's stock after purchasing an additional 1,347 shares during the period. Adobe comprises approximately 1.5% of First Long Island Investors LLC's portfolio, making the stock its 28th largest position. First Long Island Investors LLC's holdings in Adobe were worth $18,729,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after acquiring an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Adobe by 2.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after acquiring an additional 756 shares during the last quarter. ProShare Advisors LLC lifted its position in Adobe by 18.8% in the fourth quarter. ProShare Advisors LLC now owns 591,711 shares of the software company's stock valued at $263,122,000 after acquiring an additional 93,841 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Adobe in the fourth quarter valued at $35,574,000. Finally, Point72 Europe London LLP purchased a new stake in Adobe in the fourth quarter valued at $4,772,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

Shares of Adobe stock traded down $2.26 on Monday, reaching $347.10. 6,760,024 shares of the stock were exchanged, compared to its average volume of 3,900,378. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average price of $357.32 and a two-hundred day moving average price of $378.97. The firm has a market capitalization of $147.24 billion, a PE ratio of 21.63, a PEG ratio of 1.65 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the business posted $4.65 earnings per share. The business's revenue 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, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADBE. Redburn Atlantic cut shares of Adobe from a "hold" rating to a "strong sell" rating and reduced their price target for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Piper Sandler reduced 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. BMO Capital Markets reduced their price target on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a research report on Friday. Wells Fargo & Company reissued an "overweight" rating and issued a $470.00 price target (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Finally, Royal Bank Of Canada decreased their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $435.63.

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.