Hardman Johnston Global Advisors LLC Grows Stake in Adobe Inc. $ADBE

Key Points

• Hardman Johnston Global Advisors LLC increased its stake in Adobe Inc. by 8.2%, owning 70,598 shares valued at approximately $27.3 million.
• In the latest quarter, several institutional investors significantly increased their positions in Adobe, with Assenagon Asset Management boosting its stake by 308.1%.
• Adobe reported earnings of $5.31 per share, surpassing analysts' expectations, with a year-over-year revenue growth of 10.7% to reach $5.99 billion.

Hardman Johnston Global Advisors LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,598 shares of the software company's stock after purchasing an additional 5,330 shares during the period. Adobe comprises 1.2% of Hardman Johnston Global Advisors LLC's investment portfolio, making the stock its 27th biggest position. Hardman Johnston Global Advisors LLC's holdings in Adobe were worth $27,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock valued at $1,202,979,000 after acquiring an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new position in Adobe in the 1st quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after buying an additional 1,216,351 shares in the last quarter. Finally, Amundi grew its holdings in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after buying an additional 961,895 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ADBE shares. DA Davidson restated a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Barclays raised their target price on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Royal Bank Of Canada cut their price target on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $470.00 price target (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Finally, JMP Securities restated a "market perform" rating on shares of Adobe in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of "Hold" and a consensus target price of $433.41.

Adobe Trading Up 2.3%

NASDAQ ADBE opened at $351.48 on Friday. The firm has a market cap of $147.13 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.54 and a beta of 1.49. 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 1.02 and a current ratio of 1.02. The firm has a 50 day simple moving average of $353.70 and a 200-day simple moving average of $372.68.

Adobe (NASDAQ:ADBE - Get Free Report) last released its 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 company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the business earned $4.65 EPS. The firm's quarterly 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. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.

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