Foster Group Inc. Purchases Shares of 703 Adobe Inc. $ADBE

Key Points

• Foster Group Inc. has purchased 703 shares of Adobe Inc. for around $272,000, marking a new stake in the software company according to their latest Form 13F filing.
• A majority of the stock, approximately 81.79%, is owned by institutional investors and hedge funds, indicating strong institutional interest in Adobe.
• Adobe's recent earnings report exceeded expectations with a reported $5.31 EPS against a consensus estimate of $5.18, contributing to a 10.7% revenue increase year-over-year.

Foster Group Inc. purchased a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 703 shares of the software company's stock, valued at approximately $272,000.

A number of other large investors also recently bought and sold shares of ADBE. Brighton Jones LLC lifted its holdings 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 period. Bank Pictet & Cie Europe AG raised its stake in shares of Adobe by 2.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after buying an additional 756 shares during the period. Mackenzie Financial Corp raised its stake in shares of Adobe by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 66,999 shares of the software company's stock worth $29,793,000 after buying an additional 2,591 shares during the period. American Trust raised its stake in shares of Adobe by 13.9% during the 4th quarter. American Trust now owns 2,325 shares of the software company's stock worth $1,034,000 after buying an additional 283 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of Adobe during the 4th quarter worth approximately $265,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADBE. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and reduced their target price for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Oppenheimer reduced their target price on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. DA Davidson reaffirmed a "buy" rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Citigroup reduced their target price on Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research note on Thursday, September 11th. Finally, Piper Sandler reduced their target price on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Performance

NASDAQ ADBE opened at $364.08 on Tuesday. The stock 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. 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 twelve month low of $330.04 and a twelve month high of $557.90. The stock has a fifty day simple moving average of $355.82 and a 200-day simple moving average of $375.39.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping 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 business had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same period in the prior year, the business posted $4.65 EPS. The company'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. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.

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