Harber Asset Management LLC Makes New $14.89 Million Investment in Adobe Inc. $ADBE

Key Points

• Harber Asset Management LLC invested approximately $14.89 million in Adobe Inc., acquiring 38,832 shares, which makes Adobe the firm's 6th largest position at 5.3% of their portfolio.
• Adobe's recent quarterly earnings report showed an EPS of $5.06, surpassing analyst expectations by $0.09, and the company's revenue increased by 10.6% year-over-year.
• Research analysts hold a generally positive outlook on Adobe, with a consensus target price of $466.42, and a mix of ratings including "Moderate Buy" and "Strong Buy" from some firms.

Harber Asset Management LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 38,832 shares of the software company's stock, valued at approximately $14,893,000. Adobe makes up approximately 5.3% of Harber Asset Management LLC's investment portfolio, making the stock its 6th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after acquiring an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after acquiring an additional 821,293 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Adobe by 12.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock worth $2,375,345,000 after acquiring an additional 600,146 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after acquiring an additional 1,856,544 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Adobe by 6.8% during the 1st quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company's stock worth $1,432,680,000 after acquiring an additional 238,542 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ADBE shares. Mizuho reduced their price target on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Oppenheimer dropped their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Citigroup dropped their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. UBS Group dropped their price objective on Adobe from $430.00 to $400.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Finally, Robert W. Baird lifted their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Two 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $459.52.

Adobe Price Performance

Shares of Adobe stock traded up $1.39 during trading on Wednesday, hitting $347.02. The stock had a trading volume of 1,310,215 shares, compared to its average volume of 3,740,001. 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 firm has a market cap of $147.20 billion, a P/E ratio of 22.24, a PEG ratio of 1.69 and a beta of 1.48. The business has a fifty day moving average of $362.73 and a two-hundred day moving average of $384.96. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the business posted $4.48 earnings per share. Adobe's revenue was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.